BEACON ACQUIRES PARK PLAZA OFFICE BUILDING FOR $24M

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NAPERVILLE, ILL. — Beacon Investment Properties LLC has entered the Chicago market with the $24 million acquisition of Park Plaza, a 210,774-square-foot office building in Naperville. A Boston-based institutional real estate advisor sold the Class B+ office building. Park Plaza, located at 215 Shuman St., is a four-story building with 52,450-square-foot floor plates divided into 25,225-square-foot wings. Travelers Insurance Co. anchors the property, while Transguard Insurance Co. and Medical Staffing Network are among the larger tenants. Dan Deuter, senior vice president and Paul Lundstedt, executive vice president at CBRE, represented the seller. Susan Hill, senior managing partner at HFF’s Houston office, arranged an $18 million, 10-year mortgage loan through Cantor Commercial Real Estate of Houston.

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