Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A
Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A

Documents

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Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Key facts

Year Built 1984
Building Area
Land Area ()

Property description

Jones Lang LaSalle (Illinois), L.P. (“JLL”) has been exclusively retained to arrange the sale of Evanston MetroCenter (the “Property”), a transit-oriented office building with dual investment grade anchors. Located just steps away from the Davis Station, which houses both the Metra and CTA lines, the Property has unrivaled access to various labor pools in both the suburbs and downtown. Home to multiple investment grade tenants, including Accuity (parent RELX Inc.; S&P: BBB+) and Northwestern University (S&P: AA+), the Property boasts a weighted average lease term of 6.0 years, providing long-term income stability for an investor. Evanston MetroCenter has recognized remarkable leasing success in 2020 and 2021, with occupancy reaching 91.3%. The combination of commercial zoning requirements and lack of feasible development sites in downtown Evanston result in limited Class-A office product, further positioning the rare Property as one of the few premier assets in this vibrant downtown. Evanston MetroCenter provides an investor the opportunity to acquire a core Class-A office asset with exceptional transit access and investment grade tenancy in the heart of Evanston.

Investment highlights

  • Unrivaled Transit-Oriented Location
  • Supply Constrained Evanston Office Market
  • Strong Recent Leasing Success - 2020 & 2021 Activity Accounts for Over 20% of Building RSF
  • Investment Grade Tenancy - 55% of Property RSF
  • Immediate In-Place Cash Flow with Mark-to-Market Potential
Last Updated Date: 03 Jun 2021
Patrick Shields
Pat Shields
Senior Director, Capital Markets
Broker Licenses
IL-475.147639
Sam DiFrancesca
Sam DiFrancesca
Senior Director, Capital Markets
Broker Licenses
475.145835

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Last Updated Date: 03 Jun 2021

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