JOINT VENTURE SELLS OFFICE COMPLEX IN SUBURBAN CHICAGO

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OAK BROOK, ILL. — The Davis Cos., on behalf of an affiliate, and Arthur Goldner & Associates have sold The Crossings of Oak Brook in suburban Chicago for $35.7 million, or approximately $117 per square foot. Vancouver, Canada-based Adventus Realty Trust was the buyer. The Crossings of Oak Brook includes 1420 and 1520 Kensington Road, two three-story properties that total 303,510 square feet. The Davis Cos. and Arthur Goldner & Associates acquired the property in January 2010. The joint venture then implemented a capital improvement plan and increased the occupancy from 66 percent to 95 percent. HFF represented the seller and procured the buyer and NAI Hiffman acted as the leasing agent.

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