American Realty Advisors Announces the Acquisition of Oak Brook Regency Towers in Premier Chicago Submarket
American Realty Advisors announced today the acquisition of Oak Brook Regency Towers, a 402,318 rentable square foot office complex, comprised of two twin 13-story office towers, a connecting retail concourse and an attached parking garage with 1,452 parking spaces on nearly 13 acres.
The property is ideally situated in the distinguished Oak Brook office submarket in the Chicago metropolitan area, and benefits from unsurpassed visibility and accessibility from Interstate 88. Jim Postweiler and Bruce Miller of Jones Lang LaSalle represented the seller in the transaction.
The property also offers one of the most extensive amenity packages in suburban Chicago, enhancing its marketability to prospective tenants. In addition to being located directly across from the Oakbrook Center Mall, one of the top performing malls in the country, the property also offers its own retail concourse that includes a health and fitness center, bank and conference center, as well as the Tuscany Restaurant and Deli. The acquisition was completed on behalf of one of American's value-added commingled real estate funds.
"With an ongoing economic recovery in process, there continues to be a growing demand for office space, making it an optimal point to invest in the prestigious Oak Brook office submarket. Given the changing economic landscape along with the high-quality attributes of the property, American expects to generate solid returns for our clients over the long-term," said Kirk Helgeson, American's EVP/Executive Managing Director, Investments.
The property also offers one of the most extensive amenity packages in suburban Chicago, enhancing its marketability to prospective tenants. In addition to being located directly across from the Oakbrook Center Mall, one of the top performing malls in the country, the property also offers its own retail concourse that includes a health and fitness center, bank and conference center, as well as the Tuscany Restaurant and Deli. The acquisition was completed on behalf of one of American's value-added commingled real estate funds.
"With an ongoing economic recovery in process, there continues to be a growing demand for office space, making it an optimal point to invest in the prestigious Oak Brook office submarket. Given the changing economic landscape along with the high-quality attributes of the property, American expects to generate solid returns for our clients over the long-term," said Kirk Helgeson, American's EVP/Executive Managing Director, Investments.
About American Realty Advisors
American Realty Advisors, a California corporation, is an SEC-registered investment advisor under the Investment Advisers Act of 1940, as amended, and a leading provider of real estate investment management services to institutional investors. With approximately $3.7 billion* in assets under management, American has provided innovative real estate solutions to institutional investors for over 23 years utilizing core and value-added commingled funds and separate accounts. The firm's portfolios include office, industrial, multi-family, retail and other properties nationwide.
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