Golub & Company Sells, Retains Ownership Interest In Trophy Suburban Chicago Office Tower
Golub continues as operator, manager and leasing agent of Orrington Plaza in Evanston, IL
CHICAGO, June 6, 2018 /PRNewswire/ -- Chicago-based international real estate developer Golub & Company and New York-based Investcorp announced today that they have sold Orrington Plaza, a 20-story office tower in downtown Evanston, Illinois. Golub will maintain an ownership stake in the building by co-investing with a new institutional capital partner and will continue to operate, manage, and lease the property.
"We are pleased to maintain an ownership interest in Orrington Plaza, located in the heart of Evanston, one of the strongest office sub-markets in the Chicago area," said Michael Newman, president and CEO, Golub & Company. "Orrington Plaza is the premier building for tenants seeking trophy space in the northern suburbs, and we expect high demand for office space of this caliber to continue."
A Golub & Company team led by Adam Short negotiated the transaction on behalf of Golub. The sellers were represented by CBRE brokers Paul Lundstedt and Dan Deuter. Terms of the deal have not been disclosed.
Orrington Plaza, 1603 Orrington Avenue, offers 309,000 square feet of office space and 30,000 square feet of retail and is centrally located in Evanston's downtown, accessible by Chicago public transportation and near Northwestern University. The building offers unobstructed views of Lake Michigan and the Chicago skyline, 24-hour manned lobby security, an enclosed heated garage, a tenant lounge and bike room, among other amenities. Its ground-floor retail is occupied by Next of Kinship restaurant and café from Chicago-based L3 Hospitality Group and a full-service JP Morgan Chase branch and wealth management office.
About Golub & Company LLC
Since its founding more than 55 years ago, with three generations of professionals working in the business, Golub & Company has built a strong reputation as a trusted co-investor and developer with its many institutional and private capital partners. It's a reputation based on track record; Golub and its affiliates have owned, leased or managed more than 50 million square feet of commercial, mixed-use and multifamily real estate properties, including 45,000 residential units, valued in excess of $10 billion located across the United States and internationally. Access more information by visiting www.golubandcompany.com.
Contact:
Patricia Agos
Akrete
773-758-5044
SOURCE Golub & Company LLC
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