CORFAC News

CONTACT: 
Matt Paul
847.444.5748
Michael Millar
312.644.7211

Riverwoods, Ill (August 1, 2012)—Representing building ownership, Adam J. Tarantur, Principal, and Randy D. Podolsky, SIOR, Managing Principal, both with Podolsky Northstar CORFAC International, have completed the investment sale of a high-image flex building at 2200 Ogden Avenue in Lisle, IL.

The 51,971 sq. ft. single story building, located in the east-west corridor at the signalized intersection of Ogden and Western Avenues, was fully leased at the time of sale.  It boasts Ogden Avenue retail exposure and features a combination of private and common loading, and 16-foot clear ceilings.

Podolsky Northstar, in addition to being the exclusive marketing agent, also provided property and asset management services to the private tenant-in-common interest which owned and operated the building for over 10 years.  The asset was purchased by Lizzadro Properties, Inc.

“After many years owning the asset, the owners decided that this is the opportune time to sell and to reinvest the capital in alternative investments,” said Tarantur.

Podolsky added, “This sale demonstrates that there remains a healthy appetite among local investors for well-leased, well-located non-core assets in the Chicagoland area.”

Glenn Taxman of Much Shelist provided legal counsel to building ownership.

About Podolsky Northstar CORFAC International (www.podolsky.com):  The firm provides brokerage, tenant representation, acquisition, disposition, sale/leaseback, investment, build-to-suit development, property and facility management, and consulting services for industrial, office and investment properties. Its management portfolio includes more than three million square feet of property, primarily in the Midwest. Their affiliation with CORFAC (Corporate Facility Advisors, Inc., www.corfac.com), among the largest alliances of commercial real estate firms in the world, allows them to offer these services nationwide.