Bamboo Closes on First Acquisition in the State of Illinois
Bamboo Equity Partners has recently purchased a property in Rockford, Illinois (approximately 80 miles outside of Chicago) that totals 40,080 square feet. The building, located at 833 Featherstone Road, is situated in one of Rockford’s most desirable office parks in the area. This property consists of a three-story office building and has undergone approximately $2.25 million in renovations over the past three years. It is 100% occupied by William Charles Construction Company, a full-service heavy civil construction company.
“This transaction represents Bamboo’s first acquisition in the state of Illinois as we continue to focus on strategic geographical expansion. Moreover, it will serve as yet another pillar in our firm’s expanding corporate portfolio of single-tenant NNN assets,” explains Brady Gehring, Principal and Director of Bamboo Equity Partners.
The property is 100% triple net leased through December 31, 2033. Bamboo is excited to continue expanding their portfolio into new markets and is looking forward to future transactions in the area.