January 2013

New leasing team for Arlington office building

ARLIGNTON HEIGHTS — NAI Hiffman announced that Jack Reardon, senior vice president, and Brandon Berger, principal and founder of Transition Brokers RE, have been jointly retained by 3030 Salt Creek Atrium LLC  to assist in the leasing of its newest acquisition, which closed on October 31.

The property is a 100,952 square foot office building with up to 59,000 square feet immediately available for lease.

“The building was purchased at a very low basis, under $30.00 per square foot, and the buyer is a seasoned owner with excellent management and construction skills that can offer a tenant aggressive economics and a quality experience throughout their lease term.” says Jack Reardon.

The Arlington Heights office market is made up of 80 office buildings totaling about 3.4 million square feet with a current vacancy rate of 22.1%. Through the first three quarters of 2012, absorption has totaled negative 16,141 square feet.

Source: Daily Herald Business Ledger

Also mentioned in Real Estate Bisnow

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