SOLD
Compass Datacenters Acquires Sears' Chicago-Area Headquarters For $194M
3333 Beverly Road
Office
2,400,000 SF
2,400,000 SF
Sold 243 days ago
Summary
Sale
ILLINOIS
Office
2,400,000 sqft
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 The transaction reflects the growing trend of repurposing outdated corporate campuses for data storage and logistics facilities, driven by low office demand and increased demand for data storage space.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.
Players
All
5
Agents
4
Agencies
1
Details
SOLD
IMAGE: Jason Simon, Anne Dempsey, Chris Crosby, Suzanne Serino & Dougal Jeppe
DATE: 09/17/2023
ADDRESS: 3333 Beverly Road
MARKET: Hoffman Estates
ASSET TYPE: Office ~ ACRES: 197
BUYER: Compass Datacenters (@compassdatacenters) - Chris Crosby
BROKERS: Suzanne Serino, Anne Dempsey, Jason Simon & Dougal Jeppe (@dougaljeppe) - Colliers (@colliersinternational)
SALE PRICE: $194,000,000
SF: 2,400,000 ~ PPSF: $81
NOTE: Compass Datacenters has acquired Sears' Chicago-area headquarters for $194 million, with plans to demolish the existing buildings and build high-powered data centers for cloud storage. This purchase reflects the growing trend of repurposing outdated corporate campuses for data storage and logistics facilities, driven by low office demand and increased demand for data storage space.View on map
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