Grubb & Ellis Company Represents The John Buck Company in Sale of Markel Midwest Headquarters Building in Deerfield, IL

ROSEMONT, IL (Nov. 11, 2010) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, announced today that its Institutional Capital Markets group represented The John Buck Company in the sale of Ten Parkway North (top left photo) in Deerfield, a 99,566-square-foot Class A office building, to CBRE Realty Trust. 

The building is fully leased to Markel Midwest Inc.

Paul Lundstedt (middle right photo), executive vice president, Institutional Capital Markets, Jeff Shell, executive vice president, Corporate Finance, and John Gavin (lower left photo), Institutional Capital Markets, facilitated the sale. 

 “This is a great example of a well-located, fully leased core asset trading at a premium despite market conditions,” said Lundstedt.  “Given the relative strength of the North Suburban submarket and the fact that the lease in place runs through 2020, this opportunity was one that drew considerable activity.”

 Built in 1999, Ten Parkway North is part of a best-in-class, master-planned suburban office park that includes six office buildings totaling just over one million square feet and a 251-room Marriott Suites hotel with more than 3,000 square feet of conference space. 

The park is situated at the union of the Tri-State Tollway and the Edens Expressway, locating it within 20 minutes of O’Hare International Airport and 30 minutes from downtown Chicago. 

Contact:  Erin Mays, Phone 312.698.6735, Email: erin.mays@grubb-ellis.com