MEPT Sells Greenspoint Park for $23M

MEPT Sells Greenspoint Park for $23M

HOFFMAN ESTATES, IL—Multi-Employer Property Trust has sold Greenspoint Office Park here to Lincoln Property Co. for about $23.4 million.

The 498,635-sq.-ft. park is comprised of Barrington Pointe (148,385 sq. ft.), Greenspoint I (202,838 sq. ft.) and Greenspoint III (147,412 sq. ft.). The complex is 53 percent leased overall, with tenants that include Vistex Inc., Siemens, Arcadis U.S. Inc. and Kimberly-Clark. The properties are at 2300 North Barrington Road, 2800 West Higgins Road and 2895 Greenspoint Parkway at the interchange of Interstate 90 and Barrington Road in the northwest suburban submarket.

HFF marketed the property on behalf of the seller, with Bentall Kennedy acting as advisor. The HFF investment sales team representing MEPT was led by senior managing directors Jeff Bramson and Jaime Fink and director Mark Katz.

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