Lincolnshire, IL – Bradford Allen Capital arranged the acquisition financing on behalf of IHP Tri-State Asset LLC for the purchase of Tri-State International. Chuck Hoag, Senior Managing Director of Bradford Allen Capital, originated the $58 Million loan from Regions Bank.
“We presented the deal to a host of lenders, and Regions Bank gave us an outstanding offer,” said Chuck Hoag. “They wanted the opportunity to continue to grow their Midwest portfolio, and we are very pleased with the result.”
Tri-State International, the home of technology products seller, CDW’s executive offices, was constructed between 1984 and 1989 and is approximately 80 percent leased. The five building, 560,000-square-foot, Class A office complex is located at the four-way interchange of the Tri-State Tollway (I-94) and Half-Day Road (Route 22) in Lincolnshire, IL. In addition to the executive offices for CDW, notable tenants include: Solo Cup, Wells Fargo, and LTD Commodities. The property has recently upgraded its amenities including a state-of-art conference center with a 135-seat auditorium, and fitness center in the 200 Building and a new deli in the 300 Building. A recently completed 4-story parking structure was constructed for CDW’s employees and is immediately northeast of CDW Center, which contributes to the property’s above average 4.3/1,000 RSF parking ratio.