Location:
500 Technology Drive
Naperville, IL
Buyer:
GE Commercial Finance
Seller:
Park Place Partners
Date of Sale:
09/13/06
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TRANSACTION SUMMARY:
The subject property was located within a submarket that was experiencing above average vacancy rates and depressed rental rates. Upon sale, the tenant had approximately five years remaining on the lease.
Converse Capital was able to identify a capable purchaser who was comfortable with the credit of the tenant and their renewal probability.
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