August 13, 2019 Comments (0) Views: 281 Chicago News, Greater Chicagoland

NJ Investor Enters Chicago Region with Oak Brook Office Deal

New Jersey-based Fairbridge Properties acquired Oak Brook Gateway, an eight-story, 233,166-square-foot, Class A office property in Oak Brook, IL for $42,850,000. The seller was reportedly Blackstone.

“This acquisition marks our proud entrance into the third largest real estate market in the U.S.,” said Dmitry Gordeev, Fairbridge’s founder and managing partner. “We are excited to own a beautiful building in a densely populated, top performing submarket that has access to a highly skilled labor force.”

Oak Brook Gateway is home to a diverse roster of 21 tenants from various industries. Gordeev cited the Oak Brook area’s desirability.

“This is not only evidenced by the area’s current high density, but its future development,” he said. “Hines’ brand-new $500 million mixed-use development will be going up across the street from our building. This addition serves as an economic boon for our community and our building.”

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