Transactions - JULY 2, 2015

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Cornerstone acquires Illinois office park

by Zoë Wolff

Cornerstone Real Estate Advisors has acquired the Corporate 500 Center in Deerfield, Ill., from GE Capital Real Estate for $153.8 million. The 655,872-square-foot office park was built in 1986 and is comprised of four buildings.

The property is 93 percent occupied and is home to Fortune Brands, Beam Suntory and Horizon Pharma.

GE Capital Real Estate purchased the property in 2007 for $177.2 million, according to Real Capital Analytics.

The office market has been good in the greater Chicago area with a total sales volume of $2.1 billion in the second quarter of 2015.

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