Jack Kim's KORE Investments Secures Lease Extension With Invesco For 70000 Square Feet In Downers Grove

The asset involved in this transaction is an office property located at 3500 Lacey Road in Downers Grove, Illinois, with a total square footage of 70,000. This lease transaction indicates a strategic move within the suburban office market, demonstrating a lease extension rather than downsizing, which is prevalent in many markets.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: Not disclosed
• Address: 3500 Lacey Road
• Market: Downers Grove
• Landlord: Jack Kim - KORE Investments
• Tenant: Andrew Schlossberg - Invesco
• Brokers: Allyson (Yates) Birchmeier, Chris Cummins & Daniel (Dan) Svachula - JLL

This transaction highlights key parties involved, including Jack Kim representing KORE Investments, who successfully secured the lease extension with Andrew Schlossberg representing Invesco. The brokerage team from JLL played a crucial role in facilitating this lease agreement, which indicates continued confidence in the suburban office market despite ongoing high vacancy rates.