Investment group buys Randall Road property.(Business)

0 Comments | Daily Herald (Arlington Heights, IL), October, 2004 | by Grandt, Laura

Byline: Laura Grandt Daily Herald Business Writer V-Land Corp., a retail properties developer, sold 1.58 acres to 1450 Fashion Island Boulevard Associates, a private investment group, for about $2.6 million. The land supports a freestanding BP gas station, 245 Randall Road in South Elgin, which was just built in the summer.

BP has an absolute net ground lease on the property. Bill Wright and Rich Frolik of CB Richard Ellis' Chicago Shopping Center Investment Team worked for V-Land. The buyer was represented in-house. Rolling Meadows purchase: Pol-Tel LLC will relocate its corporate headquarters from Park Ridge to 5301 Keystone Court in Rolling Meadows, where the company purchased an entire building. The telecommunications company bought the...