KORE Investments Pays $129M for Chicago-Area Office Tower

In the Chicago market’s largest suburban office deal of 2019, KORE Investments has acquired 3500 Lacey Road, a 583,982-square-foot Class A trophy office high-rise in Downers Grove, Ill., for $128.5 million.

JLL’s Capital Markets team led by Senior Director Patrick Shields, Senior Managing Directors Jeff Bramson and Jaime Fink, Director Sam DiFrancesca and International Director Bruce Miller represented the seller, BentallGreenOak—a new firm created this summer following the merger between Bentall Kennedy and GreenOak Real Estate. JLL also procured KORE Investments, a Denver-based real estate investment firm.

KORE Investments buys suburban Chicago office tower for $128.5 million

Greenwood Village-based KORE Investments closed on a deal for a 12-story, 584,000-square-foot suburban office tower in late November, according to public records.

While prices like that seem fairly common for Denver towers, KORE Investment’s deal for the tower at 3500 Lacey Road in Downers Grove, Illinois, has been noted as Chicago market’s highest price of the year for a suburban office property by Commercial Property Executive.

Jack Kim, CEO and founding principal of the real estate investment firm, told Denver Business Journal the $128.5 million investment is part of a bigger strategy for his company, which he says hopes to acquire more assets in both Chicago and Denver, as well as in a few other key markets.

Re/Max HQ building in DTC sells for $115M

The Denver Tech Center building that houses Re/Max’s headquarters has sold in a nine-figure deal.

Greenwood Village-based KORE Investments paid $115.2 million last week for the 12-story, 242,000-square-foot Re/Max Plaza building at 5075 S. Syracuse St. in Denver, according to county records.

Jack Kim, founding principal of KORE — which stands for Kingdom Oriented Real Estate, a nod to what he describes as Christian business practices — called the building “truly a trophy asset.”

Trophy asset in DTC sells for record $115.2 million

A Denver-based company has acquired a trophy property anchored by a headquarters office building for $115.2 million, or $475 per square foot – a record for the southeast suburban office market.

KORE Investments purchased Re/Max Plaza in an off-market deal. The 242,497-sf property at Interstate 25 and East Belleview Avenue includes the 12-story Re/Max International headquarters, and neighboring Shanahan’s Steakhouse and soon-to-open Snooze restaurant building.

The Latest In A Busy Market: SE Suburban Denver Office Trades For Nearly $11M

Locally based KORE Investments acquired Republic Park I, a 91K SF office building at 9250 East Costilla Ave. in Greenwood Village for $10.8M, the latest in a string of investment sales in Denver’s southeast suburban market. The seller was Lakewood-based LNC Investments.

Built in 1983, the six-story brick-and-glass building was most recently renovated in 2015, with upgrades in its common areas and lobby. The property, which sits on 4.1 acres, is 96% leased.

Corporate Tithing: An Interview with Jack Kim

Jack Kim, Founder and Principal at KORE Investments, and a WaterStone giver, was recently interviewed by Jeff Haanen, the Executive Director at Denver Institute for Faith & Work. In this interview Jack and Jeff discuss Jack’s business model, philosophy of giving, and why we should tithe even if it means ordering off the dollar menu at McDonald’s.

Jeff Haanen: Let me ask you a few questions about the KORE Investments business model. Would you share your philosophy of how you do your business differently?