Riverway Portfolio _Property for Sale
Riverway Portfolio _Property for Sale
Rosemont, IL, US, Americas

Riverway Portfolio

Portfolio description

Jones Lang LaSalle (Illinois), L.P. (“JLL”) as exclusive advisor, is pleased to present the opportunity to acquire the 100% fee simple interest in Riverway, an urban, transit-oriented collection of three trophy office buildings and a daycare facility with a total area of 893,582 RSF in Rosemont, IL (the "Portfolio", the "Property").


Situated proximate to the CTA Blue Line “L” stop and the nexus of I-90/I-294/I-190 as well as O’Hare International Airport, surrounded by an abundance of area as well as on-site amenities, Riverway has a long-standing history of attracting investment grade tenants and corporate headquarters. With nearly $19 million to reimagine the office buildings to be best-in-class, Riverway has attracted nearly 230,000 RSF of combined new and expansion leases executed since January 2023. The Property is currently 70.8% leased to a highly diverse, blue chip tenant roster including the largest tenant, U.S. Foods (S&P: BB), Wells Fargo Rail (S&P: BBB+), Appleton GRP (S&P: A), Culligan International Company (S&P: B), Regal Rexnord (S&P: BB+), Siemens Corporation (S&P: AA-), and PWC (S&P: AA). Delivering 5.4 years of weighted average remaining lease term and backed by trophy quality, investment grade and headquarters dominated rent roll, Riverway offers durable cash flow, while also affording meaningful NOI growth from the lease up of the highly attractive remaining vacancy and take advantage of the flight-to-quality trend occurring across the country. The Offering presents the extremely rare opportunity to acquire one of the highest quality transit-oriented trophy complexes in the country at a significant discount to replacement costs. An attractive seller financing will be provided on a non-recourse basis.


The Portfolio is offered for sale with attractable assumable financing.

...

Attributes

Building area gross
893,582 sf
Occupancy
71%
Year renovated
2024
Building class
Trophy / Premium
Riverway Portfolio (3 Properties)
Riverway Portfolio (3 Properties)

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Investment Highlights

Fully Renovated Trophy Office Complex with Seller Financing

  • Comprehensive Nearly $19 million Capital Investment Project Completed in 2024


The Flight-To-Quality Drives Outsized Leasing Velocity

  • Nearly 230,000 of Positive Leasing Activity Occurring Since January 2023


Institutional Quality Rent Roll Anchored by Investment Grade Credit

  • Corporate Headquarters and Investment Grade Tenants: 91.5% of Total Occupied RSF with a WALT of 5.5 Yrs


Unrivaled Local, Regional, & International Connectivity


Urban Core and Transportation Hub Excellence

  • 9.3% Higher Occupancy and $12.81/RSF Gross Rent Premium Over the Entire Suburban Market


Best-Of-The-Best Area Amenities


Substantial Discount to Replacement Cost

  • x2.2 Replacement Rent Premium
Riverway Portfolio  4_Property for Sale
Riverway Portfolio  4_Property for Sale

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Last updated
21 Oct 2024