Chicago, IL – (November 15, 2019) Friedman Real Estate, one of the nation’s largest leading providers of commercial real estate services, has announced the sale of Corporate Lakes III, an institutional-quality office building totaling 124,327 SF across four floors, located at 2200 Cabot Drive in Lisle, Illinois. The deal was facilitated by Kellen Duggan, Vice President of Brokerage Services at Freidman.
Friedman, in partnership with Somera Road, purchased Corporate Lakes III at the start of 2019. By leveraging Friedman’s fully integrated leasing and marketing teams, they were able to position the building as a premier business location in Chicagoland’s corporate campus.
“Having been awarded the management and leasing of Corporate Lakes III just this year, and now having the privilege to facilitate the sale of the building has been a rewarding experience,” said Jared Friedman, Director of Opportunities at Friedman Real Estate. “We’re excited to complete a deal of this size in the Chicago market and see what the future holds as we continue to expand our Chicago footprint.”
About Friedman Real Estate
As one of the largest privately-held full-service commercial real estate organizations in the nation, Friedman Real Estate provides clients with a single point of contact for the full range of Advisory, Property Management, Brokerage, and Construction services that it offers.
Friedman manages more than 140 commercial properties encompassing more than 16M SF and more than 22,000 apartment homes throughout the United States. Friedman’s brokerage team has over 800 current listings with $20 billion in closed transactions. As owners and managers of commercial property for over 30 years, Friedman understands what it takes to achieve results that maximize their clients’ objectives. Additional information is available at www.friedmanrealestate.com and on LinkedIn, Twitter, and Facebook.
About Somera Road Inc.
Somera Road Inc. is a New York-based commercial real estate investment firm focused on value-add and opportunistic transactions across all asset classes and geographies. Somera Road targets off-market acquisitions previously impaired by some form of distress such as loan defaults, partnership disputes, and bankruptcy. These opportunities are often overlooked by larger institutional investors. Somera Road takes an entrepreneurial and methodical approach to identify off-market real estate opportunities that generate above-market returns for its investors. With a disciplined and aggressive approach, Somera Road drives value through strategic asset re-positionings, targeted capital improvement plans, and best-in-class, hands-on asset management. Since its inception, Somera Road has acquired over $1.5 billion in real estate totaling approximately 16 million square feet across 49 unique markets.
Somera Road was named one of Inc. magazine’s Best Places to Work in 2019, the annual ranking in the fast-growing private company sector.