Compass Datacenters Acquires Sears' Chicago-Area Headquarters For $194M

Compass Datacenters has acquired Sears' Chicago-area headquarters for $194 million in Hoffman Estates. The property, located at 3333 Beverly Road, spans 197 acres and is classified as an office asset. The transaction reflects the growing trend of repurposing outdated corporate campuses for data storage and logistics facilities, driven by low office demand and increased demand for data storage space.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $194,000,000
• Address: 3333 Beverly Road
• Market: Hoffman Estates
• Acres: 197

In this deal, Compass Datacenters, led by Chris Crosby, emerged as the buyer. The broker representation was provided by Suzanne Serino, Anne Dempsey, Jason Simon, and Dougal Jeppe from Colliers. The property encompasses a total of 2,400,000 square feet, resulting in a price per square foot of $81.