O NE PARKWAY NORT H Deerfield, Illinois
Transcript of O NE PARKWAY NORT H Deerfield, Illinois
Holliday Fenoglio Fowler, L.P. (“HFF”) is an Illinois licensed real estate broker
Deerfield, Illinois
Executive Summary
ONE PARKWAY NORTH
KEY INVESTMENT HIGHLIGHTS
Anchor Tenant and Guaranteed Income Stability - Anchor tenant, Fortune 500 company Essendant, Inc. (formerly known as United Stationers) with revenues of $5.3 billion in 2015, leases 198,730 RSF (77.4% of the gross building area) and recently renewed their lease for an additional 11 year term through October 2027. Long term cash flow is guaranteed as the weighted average lease term is an astoundingly high 10.1 years.
Institutionally Maintained through Extensive Capital Improvement - In addition to several building upgrades performed in the last year, current ownership is currently installing a fitness center and renovating the building atrium and on-site food service. The total cost of capital improvements performed within the past year will be equal to $3.4 million.
Upside with Competitive Basis at Substantial Discount to Replacement Cost - Built to the highest standard of Class A office developments, One Parkway’s replacement cost today would be in excess of $350 per rentable square foot requiring gross rents of $29.00 per rentable square foot (40% above the current market rent for the Property). Investors will have the upside opportunity for rent growth especially in a market with no foreseeable speculative construction.
One-of-a-Kind Location - One Parkway North is adjacent to the Tri-State Tollway in Deerfield and 155,000 vehicles pass by the Property on a daily basis providing tremendous signage opportunities. In addition to having direct access to the Tri-State and Edens Expressway, the Property is also proximate to two (2) Metra stations, connecting One Parkway to the surrounding suburbs, the Chicago CBD, O’Hare International Airport, and two other regional airports.
North Suburban Submarket and Lake County Address - The North Suburban submarket routinely outperforms the surrounding areas in occupancy rate, net rents and leasing velocity due to the area’s reputation as Chicago’s premier office market and the destination for corporate headquarters and biotech companies. The Lake County address is of further appeal because of the lower tax rates compared to Cook County.
Immediate Access to Class A Amenities - One Parkway North benefits from an on-site food service, heated executive parking, a newly renovated atrium, and brand new in-building fitness center. Within a 5 to 10 minute drive of the Property, there are over 50 restaurants, 8 hotels, 11 banks, 9 retail/shopping centers (including Northbrook Court), a Whole Foods and 2 Metra Stations. This vibrant atmosphere leads to strong tenant retention in Deerfield.
Skilled Labor Pool and North Shore Location - Another advantage of the Property’s North Shore location is its access to the deep labor pool in the surrounding areas. Within one mile of One Parkway, 75.2% of residents have obtained a Bachelor’s degree or higher, the average annual household income is $209,522 and the median housing value is $574,526. Many decision makers and executives live in the surrounding areas and are another reason why corporate businesses want to be in this submarket.
Parkway North Center: Best-in-Class Office Park - One Parkway North is part of the master-planned, TOBY award-winning office campus known as Parkway North Center. The campus features a Marriott Suites hotel, Bright Horizons daycare center, state-of-the-art LifeStart fitness center, three Pace bus stops, three on-site dining options, Starbucks kiosk, and an adjacent luxury apartment community. The desirability of the office campus is evidenced by the tenant roster which includes the headquarters of the Fortune 500 company Mondelez, CF Industries’ headquarters, Walgreens, GCG Financial, Aerotek, Meridian Group and many others.
KEY PROPERTY STATISTICSBUILDING ADDRESS One Parkway North Blvd, Deerfield, IL
RENTABLE AREA 256,743 RSF
LAND SITE 11.22 acres (488,743 SF)
PERCENT LEASED 91.3%
STORIES 5
DATE COMPLETED/RENOVATED 1988 / 2016
TYPICAL FLOOR PLATE 51,000 RSF
PARKING 781 Spaces
WEIGHTED AVERAGE LEASE TERM 10.1 Years
CONTRACT RENT % BELOW MARKET AT EXPIRATION -5.14%
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INVESTMENT OVERVIEWHolliday Fenoglio Fowler, L.P. (“HFF”) is pleased to present One Parkway North (the “Property”
or “One Parkway”), a rare opportunity for investors to acquire a core asset in Chicago’s prestigious
North Shore. One Parkway North is a 256,743 rentable square foot (“RSF”), five-story Class A
building that is the cornerstone of the Parkway North Center office campus, one of Chicago’s
premier office campuses. The Property serves as the global headquarters for Essendant
(NASDAQ: ESND, 77% of the GLA), a Fortune 500 company. Essendant recently recommitted
to the Property by extending their lease through October 2027, over 11 years remaining, while
bringing the overall weighted average remaining lease term for the Property to 10.1 years.
Located adjacent to the Tri-State Tollway, the Property enjoys excellent visibility and access to the
surrounding North Shore as well as the CBD and greater Chicago metropolitan area. The asset's
proximity to decision makers in the North Shore and easy access to Chicago’s vast labor pool in the
North and West, coupled with Lake County’s low taxes, create the perfect environment for a corporate
headquarters location. Of the 31 Fortune 500 companies that are headquartered in the Chicago area,
20 of them are located in the suburbs, and 14 are located in the North Suburban submarket, specifically
Abbott Laboratories, Abbvie, Allstate, Anixter, Baxter, CDW, Discover Financial, Essendant, Illinois Tool
Works, Mondelez International, Packaging Corp of America, Tenneco, W.W. Grainger and Walgreens.
In addition, One Parkway North is located proximate to a number of other corporate headquarters
such as AonHewitt, Astellas, Caremark, Hospira, and Takeda Pharmaceuticals.
One Parkway North provides the opportunity for an investor to acquire a core Class A office asset
with a highly secure income stream in a strategic corporate headquarter location in Chicago’s
prestigious North Shore.
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Wooil
Ram Restaurant & BreweryDunkin Donuts
SubwayRT Lounge
Cooper’s Hawk WineryWestin North Shore
Waukegan Rd
Tri-
Stat
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CHICAGO EXECUTIVE AIRPORT
Lake Cook Rd
Dundee Rd
Pfingsten Rd
Western Ave
Landwehr Rd
Sanders RdWalters Ave
Techny Rd
Willow Rd
Deerfield Rd
Edens Expressway
Edens Spur (Toll Road)
NorthbrookCourt
DeerbrookShopping Center
Future Site:NorthShore770
Mariano’sPanera BreadFuddruckers
PNCNoodles & Company
ChipotleSleepys
Hair Cuttery
RestaurantHotel
Shopping/RetailGrocery
Bank
site1000 Skokie Blvd
Prairie GrassRon of Japan
Morton’s
RennaissanceHotel & Resorts
Ruth’s ChrisSteak House
Mariano’sStarbucks
ChaseWalgreens
Lifetime Fitness
StarbucksPotbelly
The Container StoreTrader Joe’s
VerizonNordstrom Rack
PetsmarkFedEx Office
McDonaldsFrancesco’s
Next Door BistroCharlie Beinlich’s
Subway
ChaseMax’s Deli
Binny’sGuitar Center
LA Fitness
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StarbucksBlackie’sSubway
Noodles & CompanyChase BankPNC Bank
Sports AuthorityO�ceMax
Bed Bath & BeyondCarter’s
Jewel
Simply ThaiGreek Feast
Leonard's Bakery
Dairy QueenOnce Upon
a DeliJake's
Pizzeria
Chase Bank
Max andBenny’s
PF Chang’sDiPescara
Corner BakeryThe Claim Company
AMC TheaterApple Store
Crate & BarrelCoach
Louis VuittonTi�any & Co.
Stir CrazyLord & Taylor
Macy’sNeiman Marcus
Kate SpadeTUMI
Thai ThaiRistorante Abruzzo
Sachs Recreation Center
7-Eleven
McDonald’sParkway Bank
& Trust Co
Panera Bread
Dunkin’Donuts
Demetri’s Greek RestaurantEggshell Cafe
Rosebud
Wild FishSushi
Trax Tavern Grill
StarbucksChipotle
Bobby’sDeer�eld
Residence InnMarriott Carson’s
Barnes & NobleWalgreens
Whole Foods
Chase BankFirst Midwest Bank
Marriott Hotel
TeddyFabzHome Depot
Marriott Suites
Hyatt Deer�eld
J. Alexander’s
Tastes of Chicago
Butter�elds Pancake HouseJosh’s Hot Dogs
Buca di BeppoOld Munich Inn
Pete Miller’s Seafood& Prime Steak
Starbucks
BenihanaJoe’s Pizzeria
Taco BellMcDonald’s
Panda Express Jimmy John’s
WingstopPinhead’s Je�rey Lanes
Walgreens
Tuscany WheelingGolden Chef
Embassy Suites Hotel
U.S. BankDeer�eld Bank & Trust
BMO Harris
First American Bank ATM
Chase Bank
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Summary of Primary Tenants Leased SF % Share (1) Current Rent/SF Expires Remaining Term Credit Rating (2)
ESSENDANT 198,730 77.4% $18.00 Oct-27 11.2 yrs NA
FRIEDMAN CORPORATION 15,687 6.1% $17.76 Apr-20 3.7 yrs Fitch: BBB-
AJILON PROFESSIONAL STAFFING 5,152 2.0% $18.04 Feb-17 0.5 yrs S&P: BBB+; Moody's: Baa1
RIGHT MANAGEMENT 4,458 1.7% $18.54 Sep-18 2.1 yrs S&P: BBB; Moody's: Baa1
ORTHONET SERVICES 3,238 1.3% $18.58 Aug-18 2.0 yrs NA
BDM INVESTMENTS 1,578 0.6% $19.10 Oct-20 4.2 yrs NA
TOTAL / WEIGHTED AVERAGE LEASE TERM 228,843 89.1% 10.1 yrs
(1) % Share is based on future building RSF of 256,743(2) Credit Ratings for Friedman and Right Management are reflective of their respective parent companies, Constellation Software and Manpower Group. Credit rating for Ajilon is reflective of its Guarantor, Adecco.
D e d i c a t e d A n c h o r T e n a n t w i t h C R E D I T Q U A L I T Y I n c o m e S t a b i l i t yEssendant (NASDAQ: ESND), the Property’s anchor tenant, is a publicly-traded Fortune 500 company that recently memorialized their long term
commitment to the Property with a lease extension through October 2027. Formerly known as United Stationers Supply Company, Essendant is a
leading national wholesale distributor of workplace essentials, and has been headquartered at the building since 2005. Essendant currently leases
198,730 RSF (77.4% of the gross building area). The tenant has a ROFO on all remaining space in the building but does not have an option to terminate,
creating the ideal environment for Essendant to increase their footprint within the Property. Essendant’s anchor tenancy will provide significant stabilized
cash flow to an investor looking for a core income stream.
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I n s t i t u t i o n a l l y M a i n t a i n e d T h r o u g h E X T E N S I V E C a p i t a l I n v e s t m e n tThe Property has been maintained and managed to the highest institutional standards with current and recent ownership investing in significant capital
projects. In addition to the fitness center that will be completed by the summer of 2016, ownership will have completed an additional $2.8 million of
capital improvements to building systems and aesthetics, prior to closing. These capital projects include a renovation of the atrium, improvements to
the on-site food service, modernization of elevators, and HVAC upgrades.
U p s i d e w i t h C o m p e t i t i v e B a s i s a t S u b s t a n t i a l D i s c o u n t t o R e p l a c e m e n t C o s tThe Property provides investors the opportunity to acquire a Class A office building at a substantial discount to replacement cost, providing a competitive
basis for years to come. Built to the highest standard of office developments, and institutionally owned and maintained, the cost to replicate the asset
today in its superior North Shore location would be in excess of $350 per square foot. New developments would require gross rents in excess of $29
per RSF net which is 40% above current market rents for One Parkway. This spread creates the ideal path to rent growth as well as a hedge against
future speculative development.
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Bright Horizons,LifeStart
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DEERFIELD ROAD
DEERFIELD ROAD
HAWTHORNE LANE
DOWNTOWN DEERFIELDLake MichiganLake Michigan
27 Miles toChicago CBD
RestaurantHotel
Shopping/RetailGrocery
Bank
LEGEND
PotbellyChipotle
StarbucksThe Italian KitchenRosebud Restaurant
Baskin Robbins Pure BarreWalgreens
Barnes & Noble
LoftSprint
UPS StoreCore Power Yoga
Whole FoodsChase Bank
Western UnionFirst Midwest Bank
U.S. Bank
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O n e - o f - a - k i n d L o c a t i o n One Parkway is located in the prestigious North Shore and benefits from
excellent visibility along the Tri-State Tollway I-94/I-294. This provides
tremendous tenant signage identity as the Tri-State Tollway is one of the
busiest highways in the country with over 155,000 vehicles passing by
the Property on a daily basis. The North Shore is home to Chicago’s most
affluent communities, with executives and decision-makers that live just a
short distance from the Property, while the Tri-State provides easy access
to Chicago's deep labor pool.
The on-site Pace bus stops connect the Property to an abundance of
public transportation options, including the Deerfield and Lake Cook Metra
Stations, which are only 2 and 3 miles from the Property, respectively.
These Metra Stations connect One Parkway North to the broader North
Shore and the CBD, allowing tenants to attract Chicago's highly educated
millennial work force, without opening offices in the CBD.
The Chicago Executive Airport in Wheeling is only 5 miles from the Property,
while O’Hare International Airport, the second busiest airport in the world
based on air traffic, is 15 miles from the Property. This ease of access to
world class airports is a must have for the global headquarters tenants that are
located in Parkway North Center and along the Tri-State corridor.
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L A K E C O U N T Y - L E A D E R O F B I O T E C H C O N C E N T R A T I O NLake County has emerged as a leader in the biotech industry, with nearly 12% of the state's biotech companies located within its limits. Even more
impressive is that 37% of the biotech employment in Illinois is in Lake County, with its companies employing 30,250, compared with the state's total
of 81,000. The average annual salary within the biotech industry is nearly $90,000, more than 45% higher than the overall average in Lake County
and more than twice the national average. There are more than 100 biotech and pharmaceutical companies in Lake County, including 10 corporate
headquarters, with total worldwide sales exceeding $57 billion. Large corporations in Illinois have been an important source of early-stage funding to
biotech startups with companies including Abbott, Astellas, Baxter and Takeda significantly increasing venture capital funding in recent years.
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Hyatt HotelHyatt Hotel
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3 ParkwayNorth
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6 ParkwayNorth
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Baxter Healthcare Headquarters
Baxter Healthcare Headquarters
WalgreensHeadquarters
WalgreensHeadquarters
Takeda HeadquartersTakeda HeadquartersDiscover Financial
HeadquartersDiscover Financial
Headquarters
Chicago ExecutiveAirport
Chicago ExecutiveAirport
O’Hare InternationalAirport
O’Hare InternationalAirport
5 ParkwayNorth
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DEERFIELD ROAD
HAWTHORNE LANE
LAKE COOK ROAD
SAUNDERS ROAD
27 Miles toChicago CBD
Bright Horizons,LifeStart
Bright Horizons,LifeStart
Cook County LineCook County Line
Pace Bus Stop
Pace Bus Stop
Pace Bus Stop
Marriott SuitesHotel
Marriott SuitesHotel
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I m m e d i a t e A c c e s s t o C l a s s A A m e n i t i e s One Parkway North benefits from having a newly renovated 5-story atrium with a cafeteria
and food-service inside the building, as well as the availability of 781 parking spaces, 39
of which are located in the heated, executive parking garage. By the summer of 2016,
the Property will also feature a 4,270 RSF fitness facility on the 1st floor. The adjacent
Marriott Suites hotel provides an unbeatable hospitality option just steps from the Property.
Additionally, the Woodview Apartments at Fifteen Parkway North are directly north of the
Property, and offer a convenient, luxury rental alternative for One Parkway North’s tenants.
In addition to these on-site amenities, the Property is also proximate to retail centers that
offer a range of dining and shopping options. Restaurants such as J.Alexander's, Cooper's
Hawk Winery, Buca di Beppo, Rosebud and Meritage in the Mariott, along with fast casual
lunch options such as Panera, Subway, Jimmy John's, and Chipotle are a short drive away
from the Property. In addition to the on-site Marriott Suites hotel, there is also a Hyatt,
Embassy Suites, Westin and many other hotels within the area that provide convenient
hospitality for corporate guests. Not more than 5 miles away from the Property are a
plethora of retail offerings including Deerbrook Shopping Center and Northbrook Court,
which is one of the country’s most prominent regional shopping malls with 99 stores, a
movie theater and several dining options. Northbrook Court caters to the affluent residents
of the North Shore and includes high-end retailers such as Neiman Marcus, Apple, Louis
Vuitton, Burberry, and Tiffany & Co. Westfield Old Orchard Mall in neighboring Skokie is a
1.8 million square foot complex located only 12 miles from the Property, featuring over 110
retailers and brands. The shopping center is anchored by Bloomingdale’s, Lord & Taylor,
Macy’s, Nordstrom and Saks Fifth Avenue.
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C h i c a g o ’ s P r e m i e r O f f i c e S u b m a r k e tThe North Suburban submarket’s strong demographics and high-end housing stock provide an exceptional labor pool that keeps vacancy rates
consistently below the suburban average and makes it the premier option for Chicago area companies. The North Suburban market is the preferred
headquarters location for companies in the biotech, pharmaceutical, advanced manufacturing, financial services and professional services industries. Of
the 31 Fortune 500 corporate headquarters located in the Chicago area, 20 are located in the suburbs and 14 are located in the North Suburban market.
Many of the Chicago area’s largest employers are concentrated in the North Suburban submarket, including Abbott Laboratories, Abbvie, Allstate,
Anixter, Astellas, Baxter, Caremark, CDW, Discover, Essendant, Hospira, Illinois Tool Works, Mondelez International, Packaging Corp of America,
Takeda Pharmaceuticals, Tenneco, W.W. Grainger and Walgreens. Going forward, the lack of desirable land sites should reduce vacancy rates and
foster significant rent growth in the submarket.
S k i l l e d L a b o r P o o lOne Parkway North is well-positioned to tap the diverse and skilled labor pool clustered in the Greater North Shore area. Within a one mile radius of
the Property, over 75.2% of the population possesses a bachelor’s degree or higher level of education, and the average household income is $209,522.
These are astounding numbers compared to the State of Illinois as only 31.9% have earned a bachelor’s degree or higher and the average household
income is $81,390. With many executives and professionals calling the area home, the immediate area boasts a median housing value of $574,526,
demonstrating the desirability of the region.
1-MileRadius
3-Mile Radius
5-MileRadius
Lake County Illinois
% Attaining Bachelor's Degree or Higher 75.2% 61.3% 57.7% 42.5% 31.9%
Average Household Income $209,522 $145,473 $131,373 $112,098 $81,390
Median Housing Value $574,526 $461,322 $406,654 $263,925 $186,871
Source: Nielsen
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FORTUNE 500 HEADQUARTERS IN CHICAGO MSAChicago Rank Company Fortune 500 Rank Location Revenues ($ millions)
1 Boeing 27 Chicago, IL 90,762
2 Archer Daniels Midland 34 Chicago, IL 81,201
• 3 Walgreen Co. 35 Deerfield, IL 76,392
4 United Continental Holdings, Inc. 79 Chicago, IL 38,901
• 5 The Allstate Corporation 89 Northbrook, IL 35,239
• 6 Mondelez International, Inc. 91 Deerfield, IL 34,244
7 Sears Holdings Corporation 99 Hoffman Estates, IL 31,198
8 McDonald's Corporation 110 Oak Brook, IL 27,441
9 Exelon Corporation 111 Chicago, IL 27,429
10 US Foods, Inc. 128 Rosemont, IL 23,020
• 11 Abbott Laboratories 134 Abbott Park, IL 22,323
• 12 AbbVie Inc. 146 North Chicago, IL 19,960
13 Kraft Foods Group, Inc. 165 Chicago, IL 18,205
• 14 Baxter International Inc. 185 Deerfield, IL 16,972
• 15 Illinois Tool Works Inc. 201 Glenview, IL 15,282
• 16 CDW Corporation 253 Vernon Hills, IL 12,075
17 R.R. Donnelley & Sons Company 258 Chicago, IL 11,603
18 Navistar International Corporation 276 Lisle, IL 10,806
• 19 W.W. Grainger, Inc. 290 Lake Forest, IL 9,965
• 20 Discover Financial Services 303 Riverwoods, IL 9,611
• 21 Tenneco Inc. 341 Lake Forest, IL 8,420
22 Dover Corporation 346 Downers Grove, IL 8,322
23 Motorola Solutions, Inc. 363 Chicago, IL 7,785
24 LKQ Corporation 403 Chicago, IL 6,740
25 Integrys Energy Group, Inc. 404 Chicago, IL 6,731
• 26 Anixter International 420 Glenview, IL 6,446
• 27 Packaging Corp of America 451 Lake Forest, IL 5,853
28 Ingredion Incorporated 462 Westchester, IL 5,668
29 Old Republic International Corporation 472 Chicago, IL 5,531
30 JLL 478 Chicago, IL 5,430
• 31 Essendant 489 Deerfield, IL 5,327
Source: Fortune (2015) Suburban-based Headquarters
North Suburban-based Headquarters
CORPORATE HEADQUARTERS
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METRA NORTH CENTRAL SERVICE
S Waukegan Rd
Everett Rd
Telegraph Rd Half Day Rd
Skokie Valley Rd
Westleigh Rd
Skokie Hwy
Deerpath Rd
Sheridan Rd
Ridge Rd
Waukegan RdGreen Bay Rd
Deerfield Rd
Lake Cook Rd
Dundee Rd
Walters Ave
Willow Rd
E Lake Ave
Central Rd
Golf Rd
W Dempster St
Oakton St
Greenwood Ave
Rand Rd
Northwest Hwy
Mannheim
RdSanders Rd
Pfingsten Rd
Shermer Rd
Lehign AveHarlem
AveN Sherm
er RdW
aukegan Rd
W Touhy Ave
Milwaukee Ave
Dempster St
Emerson St
South Blvd
W Touhy Ave
Asbury Ave
Crawford Ave
Ridge Ave
McCormick Blvd
Central St
Green Bay Rd
Sheridan RdGlencoe Rd
Sunset Ridge Rd
Tower Rd
Willow Rd
Winnetka Rd
Hibbard RdSkokie Blvd
Harms Rd
Hunter Rd
Lake Ave
Old Orchard Rd
LAKE COUNTY
COOK COUNTY
METRA UNION PACIFIC NORTHWEST
METRA M
ILWAUKEE NORTH
METRA UNION PACIFIC NORTH
CTA YELLOW LINE
CTA RED LINE
CTA PURPLE LINE
EVANSTON
WILMETTE
WINNETKA
HIGHLANDPARK
LAKE FOREST
DEERFIELD
NORTHBROOK
GLENVIEW
NILES
Half Day Rd
Townline Rd
Lake Cook Rd
Dundee Rd
Willow Rd
E Lake Ave
Golf Rd
Everett Rd
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Oakton St
E Park Ave
Rockland Rd
WHEELING
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Buckley Rd
METRA UNION PACIFIC NORTHWEST
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Abbott Laboratories
Tenneco Packaging
BrunswickHospira
Pactiv
AbbvieRust-Oleum
PCA
SOLO
GraingerBaxter Credit
Union
American HotelRegister Co.
CDWZenithKlein Tools
AON Hewitt
Sysmex
Zebra Technolgies
Sauer Danfoss
Mondelez CF Industries
Essendant
Takeda
Discover Walgreens Fortune Brands
CVS/Caremark
Astellas
Allstate
Barilla
PotashCorp
Crate&Barrel
Anixter
ITW
Zurich
Motorola
Baxter
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T e n a n t s w a n t t o b e i n P a r k w a y N o r t h C e n t e r This multi-building, master-planned, TOBY award-winning office campus features six office buildings consisting of over 1 million square feet which is
over 85% leased, and has earned the reputation of attracting large, corporate tenants. Essendant, the leading national wholesale distributor of essential
work place items and Fortune 500 company, anchors One Parkway North in nearly 200,000 square feet. CF Industries, headquartered in the park with
approximately 190,000 RSF in Three and Four Parkway North, recently expanded and extended their lease for 10 years. The expansion pushed Lundbeck
into approximately 50,000 RSF at Six Parkway, further stabilizing the campus. Mondelez International, another Fortune 500 company which recently split
from Kraft Foods in 2011, is also headquartered in the park at Three Parkway North in 50,000 square feet. Walgreens also leases space within the office
park for its Walgreens University, in 40,000 square feet in Six Parkway North. Other major tenants in the park include GCG Financial and Meridian Group.
One Parkway North’s location within this office park means that its tenants benefit from the breadth of amenities that Parkway North Center has to
offer. There is a full-service Marriott Suites Hotel located adjacent to the Property with 248 hotel suites and 14 meeting rooms, including conference
facilities for tenant-use, and a white-tablecloth restaurant. Five Parkway North, on the west side of the campus, features a LifeStart fitness center and
athletic club, along with a 20,000 RSF Bright Horizons daycare center. The campus also features picturesque landscaping with a centralized pond, miles of
jogging/walking trails, three Pace bus stops, a Starbucks kiosk, ATM and three on-site dining options. Adjacent to the Property to the north is Woodview
Apartments at Fifteen Parkway North, a brand new luxury apartment community. These upscale apartments contribute to Parkway North’s amenity base
and are a further assurance that the park will remain one of the premier office destinations in Chicago. Several institutional and prominent investors have
invested in the Parkway North campus including GE, Griffin Capital, Blackstone, Wells Real Estate Funds, CBRE Global Investors, and Carr America.
ONE PARKWAY NORTHExecutive Summary
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Deerfield Road
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Saunders RoadSaunders Road
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Deerfield Park District Golf Course
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27 Miles to Chicago CBD
(94/294 Interchange)27 Miles to Chicago CBD
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Deerfield Road
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Baxter HealthcareCorporation
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Marriott HotelMarriott Hotel
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MobilGas Station
MobilGas Station
Wintergarden Cafe
Wintergarden Cafe
Meritage Restaurant and Bar
Meritage Restaurant and Bar
Takeda Headquarters,Baxter Healthcare Headquarters, Discover Financial Headquarters
Takeda Headquarters,Baxter Healthcare Headquarters, Discover Financial Headquarters
Walgreens Headquarters
Walgreens Headquarters
CF IndustriesCF Industries Mondelez, GCG Financial
Mondelez, GCG Financial
WalgreeensWalgreeens
Bright HorizonsLifestart
Bright HorizonsLifestart
Meridian GroupAerotek
Meridian GroupAerotek
MarkelMarkel
2 WayInterchange
Marriott Suites HotelMarriott Suites Hotel
S i t e P l a n
ONE PARKWAY NORTH Executive Summary
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Holliday Fenoglio Fowler, L.P. (HFF) and HFF Securities L.P. (HFFS) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 22 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.
HFF has been engaged by the owner of the property to market it for sale. Information concerning the property described herein has been obtained from sources other than HFF, and neither Owner nor HFF, nor their respective equity holders, officers, employees and agents makes any representations or warranties, express or implied, as to the accuracy or completeness of such information. Any and all reference to age, square footage, income, expenses and any other property specific information are approximate. Any opinions, assumptions, or estimates contained herein are projections only and used for illustrative purposes and may be based on assumptions or due diligence criteria different from that used by a purchaser, and HFF, its partners, officers, employees and agents disclaim any liability that may be based upon or related to the information contained herein. Prospective purchasers should conduct their own independent investigation and rely on those results. The information contained herein is subject to change.
Contact InformationHFF Chicago181 West Madison | Suite 3900Chicago, IL 60602Telephone: 312.528.3650Fax: 312.528.3651
Investment ContactsMark B. KatzManaging [email protected]
Jeffrey M. BramsonSenior Managing DirectorManaging [email protected]
Jaime M. FinkSenior Managing [email protected]
Bryan D. RosenbergAssociate [email protected]
Yoonjin [email protected]
Debt ContactChristopher S. CarrollManaging [email protected]