Opus Announces Sale of Highland Landmark V Office Building

3/29/2011
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CHICAGO, Ill. - Opus Development Corporation today announced the sale of the Highland Landmark V office building in Downers Grove, Illinois to Highland V-CPF LLC for an undisclosed sum, with the sale closing March 14, 2011. Dave Everson, vice president and general manager, Opus Development Corporation, represented the seller and Cornerstone Real Estate Advisers represented the purchaser in this direct transaction.

Highland Landmark V is a 251,235 square foot, eight-story, multi-tenant office building in the Highland Landmark Office Park, which is located at the southeast corner of I-88 (East-West Tollway) and Highland Avenue in Downers Grove. Highland Landmark V, completed in August 2008, is the fifth and final building in the 42-acre Highland Landmark Office Park, which in total encompasses 1.3 million square feet of Class A office space. The building is 100 percent leased and serves as the corporate headquarters for both DeVry Inc. and Dover Corporation. 

“Highland Landmark Office Park is one of our signature office development projects in the Chicago area and this particular building is one we are especially proud of,” said Everson. The building was named the 2009 Suburban Office Development of the Year by the Chicago chapter of NAIOP, the Commercial Real Estate Development Association. In addition, the DeVry Inc. lease was recognized by NAIOP’s Chicago chapter as the Suburban Office Lease Transaction of the Year in 2009. 

“We were extremely pleased to have DeVry and Dover select the building as their corporate headquarters,” said Everson. “We’re equally pleased to be working again with Cornerstone and transitioning ownership to this highly regarded organization.”  

About The Opus Group
The Opus Group™ is a family of national commercial real estate companies headquartered in Minneapolis, with expertise in development, project management and construction, architecture and engineering, finance, sales and leasing. The Opus Group includes Opus Holding, L.L.C. and Opus Holding, Inc. and their operating subsidiaries, Opus Development Corporation, Opus Design Build, L.L.C. and Opus AE Group, Inc. Specializing in office, industrial, retail, residential living, institutional and government projects, The Opus Group has broad capabilities, deep experience and a proven design-build model that delivers solutions for customers on time and on budget. For more information, visit www.opus-group.com

About Cornerstone Real Estate Advisers
Cornerstone Real Estate Advisers LLC, with offices in the US, UK, Europe and Asia, is one of the world's largest real estate investment advisers. It provides core and value-added investment and advisory services, including a comprehensive suite of real estate debt, equity and securities expertise and services, to institutional and other qualified investors around the globe. Cornerstone is a member of the MassMutual Financial Group. Cornerstone has assets under management totaling more than $30 billion.  For more information, visit www.cornerstoneadvisers.com.