more_sales_and_leases

CHICAGO — Golub & Co., in a partnership with Boston-based Alcion Ventures, has acquired Oak Brook Executive Plaza, a 389,000-square-foot office in Oak Brook, a Chicago suburb. Bank of America provided financing for the transaction. The purchase price was undisclosed, but according to Crain’s Chicago the joint venture agreed to pay about $57 million, or $150 per square foot, for the property. The office complex is located on West 22nd St. across from Oak Brook Center Mall and is visible from I-88. Chicago-based Golub and Alcion plan to reposition the property as high-quality office space for corporate and creative firms. The redevelopment plans include enhanced curb appeal, updated office interiors and common areas and new tenant amenities.

CHICAGO — Brennan Investment Group LLC has acquired the Cumberland Metro Office Park, a portfolio of 12 multi-tenant, single-story office/flex buildings totaling approximately 164,448 square feet in Chicago’s O’Hare submarket. The purchase price and seller were undisclosed. The office park is located on nearly 15 acres, less than two miles from O’Hare International Airport. The O’Hare submarket has demonstrated strong real estate fundamentals, evidenced by 12 consecutive quarters of positive net absorption, according to Kevin Brennan, vice president of acquisitions at Rosemont, Ill.-based Brennan Investment Group. The private real estate firm, which acquires, develops and operates industrial properties nationally, currently owns and manages nearly 20 million square feet of industrial properties in 22 states.