IL: Direct 1031 Exchange Acquires Class A Corporate HQ in Chicago Suburb
14 Jun, 2018
Direct 1031 Exchange, a national real estate investment sponsor providing accredited investors direct access to Section 1031 exchange investments, announced today that the company has acquired 2675 Pratum Ave., a 23,500-square-foot Class A office building in the Chicago suburb of Hoffman Estates. The property will be available for investments by accredited investors via a Delaware statutory trust, Direct 1031 Exchange Hoffman Estates, DST.
A three-story office building, 2675 Pratum Ave., is 100 percent leased for 20 years to WT Group, a full-service engineering, design and consulting firm. The property was purchased in a sale-leaseback transaction.
"This is a well-located Class A office building that serves as the corporate headquarters of WT Group, which just completed renovating and expanding the building to fit its growing needs," said Matt Bear, founder and chief executive officer of Direct 1031 Exchange. "The WT Group is a multi-generational company that has demonstrated a strong commitment to the building with its long-term leaseback of the property. Direct 1031 Exchange is pleased to structure this property as a direct DST investment for accredited investors."
Situated on nearly 2 acres of land, 2675 Pratum Ave. has a parking ratio of 4.2 spaces per 1,000 square feet. Nestled within a 780-acre master-planned business park, the building is located near Interstate 90 next to the Arthur L. Janura Forest Preserve and Spring Lake Forest Preserve. It is also within walking distance of Sears Centre Arena and a variety of restaurant options, including Hoffman Estates Beer Garden, BierGarten, The Saddle Room and other venues. The property is situated close to the Prairie Stone Crossing shopping center, which features stores like Target, L.L. Bean, PetSmart, DSW, restaurants and more.
The WT Group was founded in 1971 and has grown to employ more than 150 professionals in 10 practice areas that operate in all 50 U.S. states. With additional offices in Las Vegas, Dallas and Chicago's city center, the company supports a range of clients, from local businesses to multinational corporations. The WT Group has expanded its portfolio of design and engineering services to include civil engineering, heating, ventilation and air conditioning, plumbing, electrical and fire protection engineering, land surveying, and telecommunications engineering. WT Group has successfully completed a broad range of projects, including apartment buildings, libraries, financial and religious institutions, gas stations, restaurants, cell sites, office buildings, park district projects and healthcare properties. The firm has completed more than 15,000 projects in the past five years.
Chad Arthur, principal and managing broker of Arthur Brokerage Group, represented WT Group in the sale.
Direct 1031 Exchange is a recently launched online portal that provides Section 1031 exchange offerings directly to investors using the Delaware statutory trust structure under SEC Rule 506(c). Through Direct 1031 Exchange's online investment portal, accredited investors can directly participate in 506(c) DST offerings sponsored by the firm with no upfront securities load or commission paid by investors.
About Direct 1031 Exchange
Direct 1031 Exchange is a national real estate investment sponsor that offers accredited investors direct access to qualifying real estate as their Section 1031 replacement property. With direct access through Direct 1031 Exchange's online investment portal, investors can participate in Section 1031 exchange offerings with no upfront securities load or commission paid by investors. The company provides Section 1031 exchange offerings directly to investors using the Delaware statutory trust structure under SEC Rule 506(c). To learn more about the company, or to open an investor account, please visit www.Direct1031Exchange.com.
Direct 1031 Exchange, LLC, or the "Company," is not a registered broker-dealer. The Company does not give investment advice, endorsement, analysis or recommendations with respect to any securities.
Securities offered through North Capital Private Securities ("NCPS"), Member FINRA/SIPC, located at 623 East Ft. Union Blvd, Suite 101, Salt Lake City, UT 84047. NCPS does not make investment recommendations and no communication in any medium should be construed as a recommendation for any security offered. The background of North Capital Private Securities can be found at FINRA's BrokerCheck. This material is intended solely for qualified investors. Investments in private offerings are speculative and involve a high degree of risk and those investors who cannot afford to lose their entire investment should not invest in such offerings.