CHICAGO, Ill. - Opus Development Corporation announced today the sale of Oakview Building I in Oakview Corporate Park in West Dundee, Ill., to a Boston-based real estate advisor for an undisclosed sum, with the sale closing on April 22, 2011.
Oakview Building I totals 154,475 square feet and was 83 percent leased at the time of the sale by Plastival, Inc., General Technologies, Inc., and MayTec, Inc. Completed in July 2007, this building is located near the Randall Road interchange on I-90, in one of Chicago's northwest suburbs. Opus has built the entire Oakview Corporate Park, including three buildings that total approximately 300,000 square feet. Most recently, Opus completed a 35,000-square-foot warehouse/distribution facility designed and built for King Shan, LLC in this business park.
"There has been a significant uptick in institutional sale activity the past 60 days and we're seeing good pricing for quality assets," said Mike Yungerman, vice president, real estate development for Opus Development Corporation.
About The Opus Group
The Opus Group™ is a family of national commercial real estate companies headquartered in Minneapolis, with expertise in development, project management and construction, architecture and engineering, finance, sales and leasing. The Opus Group includes Opus Holding, L.L.C. and Opus Holding, Inc. and their operating subsidiaries, Opus Development Corporation, Opus Design Build, L.L.C. and Opus AE Group, Inc. Specializing in office, industrial, retail, residential living, institutional and government projects, The Opus Group has broad capabilities, deep experience and a proven design-build model that delivers solutions for customers on time and on budget. For more information, visit www.opus-group.com.
Opus Development Corporation Announces Sale of Oakview Building I
