June 23, 2016
Development firm John Buck Co. sold three office buildings from the Parkway Center in Deerfield, IL to Chicago-based Fulcrum Asset Advisors for a reported $80 million. The transaction is the largest so far in 2016 among suburban office properties.
The portfolio consisted of the 244,407 square-foot Three Parkway North, as well as the 96,054-square-foot Six Parkway North and the 132,867-square-foot Nine Parkway North. The sale represents John Buck’s exit strategy from the office park.
The developer had acquired five of the six large buildings in the complex and a smaller structure for $168 million in 2008. Previously, Buck already sold Ten Parkway North for $25 million in 2010 and Four Parkway North for $40.9 million in 2012. Last year, the company sold a smaller structure at Five Parkway North for just over $1.2 million.