Real Capital Solutions, a Louisville, Colorado investor, is under contract to buy MetroWest, the Helmut Jahn-designed office tower that looms over Interstate 88 in Naperville. The 10-story building at 55 Shuman Blvd. is a local landmark with a distinctive N-shaped profile and has been on the market this cycle. If the contract closes, it would be another signal that opportunistic buyers are scooping up Chicago suburban offices at deep discounts.
Deal details
According to CoStar News, Real Capital Solutions has a contract in place to acquire MetroWest after Newmark began marketing the property last October. CoStar quotes RCS chief acquisitions officer Adam Abeln as saying, "we are buying at values and discounts we won’t see for another decade or two." The outlet frames the move as part of a cash-heavy, value-oriented push into both suburban and downtown office assets.
MetroWest up close
The property totals roughly 207,700 square feet across 10 floors and was completed in 1986, according to listing materials. Its Jahn-designed slope and balconies make it highly visible from the tollway and have helped it remain a recognizable suburban address. Marketing pages show the building was about two-thirds leased when it went up for sale, leaving a notable chunk of vacancy for a buyer to chase, as shown on LoopNet.
Why a Colorado buyer?
Real Capital Solutions has been active in big, discounted office deals, and its purchase of the 401 N. Michigan tower for about $132.5 million signaled the firm’s appetite for distressed downtown and suburban plays, as reported by Bisnow. CoStar News also reports the firm is preparing to raise roughly $400 million for a first U.S. office fund, a pool of capital that would let it pursue several repositioning plays at once. That combination of capital and a value-focused playbook helps explain why buyers like RCS are circling properties such as MetroWest.
Nearby deals and marketing
Equus Capital Partners recently sold the two-building Mid America Plaza to Tryperion Holdings for about $59 million, a trade that highlights the reset in suburban pricing; Tryperion discussed the acquisition in a company release. Trade reporting also notes Equus hired Newmark to market MetroWest back in October, putting the Jahn-designed building in front of a wider universe of buyers, with local coverage from The Real Deal and Tryperion's announcement.
What to watch next
If the sale closes, observers expect a focus on spec suites, upgraded common areas and leasing incentives as the new owner tries to shrink vacancy quickly. Real Capital Solutions' public materials describe a strategy of buying buildings with lower occupancy where targeted capital and leasing can unlock value, per the firm's website at Real Capital Solutions. Market reports point to pockets of suburban opportunity even as leasing remains uneven, according to recent suburban office research from Newmark Research. Naperville brokers and tenants will be watching whether a buyer invests to keep MetroWest competitive with newer campuses and downtown alternatives, a test that could say a lot about western-suburban office demand going forward.
