A joint venture partnership between Wells Real Estate Fund XIII, L.P. and Piedmont Operating Partnership, LP, has sold Two Park Center, the four-story office building in Hoffman Estates, IL, to The Salvation Army for a gross sales price of $8.825 million, exclusive of closing costs.
The recently-vacated building contains approximately 194,000 rentable square feet and is located at 5550 Prairie Stone Parkway. According to the sale contract, CBRE, Inc. represented the buyer in this transaction. The seller was represented by Cushman & Wakefield of Illinois.
Completed in 2000, the building is located on 2.7 acres off I-90 and approximately 30 minutes from O’Hare International Airport. The Salvation Army intends to use the building as its central region headquarters.