300 Martingale

Leopardo and Tandem Development Group purchased 300 N. Martingale, a 156,000-SF “Class A” office building in Schaumburg, IL. The eight-story building is located in the heart of Woodfield Corporate Center at the intersection of Route 72 (Higgins Road) and I-290. Campus amenities include covered parking for all employees, 24-hour on-site security, fitness center, deli, dry cleaner, flower shop, hair salon, full-service restaurant and bank.

Purchase price of $16.1 million or $103.61 per square foot
The average sale price for office buildings in the Chicago suburbs this year stands at just more than $150 per square foot, according to Real Capital Analytics Inc., a New York-based research firm
In addition to the acquisition, finalized a 10-year lease with PromoWorks for 60,000-SF which brought total occupancy of the building to 97 percent, up from approximately 60%
Provided signage rights to PromoWorks, which enabled them to put their name atop the building which is visible from State Route 53 with other nearby office buildings sporting marquee names such as GE Finance, AC Nielsen and Navistar
This facility purchase represents the first individual private owners of a building on Martingale Road in Schaumburg, considered the northwest suburban office market’s premier corporate office park