Tandem, a new real estate group, buys in Schaumburg.(Business)(Hot properties)

0 Comments | Daily Herald (Arlington Heights, IL), February, 2007 | by Pohl, Kimberly

Byline: Kimberly Pohl Daily Herald Business Writer There's nothing like a high-profile acquisition to get a new company's name out there. In one of its first transactions, Hoffman Estates-based Tandem Development Group LLC said it has purchased a 156,000-square-foot office building in Schaumburg for $16.1 million.

Tandem quickly tied down a new anchor tenant for the eight-story property, located in the Woodfield Corporate Center at Higgins Road and I-290. PromoWorks, a marketing services firm in Schaumburg, signed a 10-year lease for 60,000 square feet at 300 N. Martingale Road. "With one year remaining on our lease, we found ourselves bursting at the seams in our old building," PromoWorks Chief Executive Mike Kent said. The deal raises the...