ISTP Ownership Changes
These recent sales highlight property types for which real estate investors have clamored during the COVID-19 pandemic: high-quality life sciences research buildings and office buildings with big, single tenants with good credit and long-term leases. The former has benefited from a rush of venture capital pouring into biotech and pharmaceutical research throughout the public health crisis, while the latter has drawn buyers looking for safe places to invest amid economic uncertainty
A venture of Hallandale Beach, Fla.-based TopMed Realty bought the 233,588 -square-foot office building at 4901 Searle Parkway. The building, which is almost fully leased to NorthShore 
University HealthSystem on a long-term deal, was purchased from a venture of Skokie-based American Landmark Properties
The sale comes a month after American Landmark sold the life sciences lab portion (8025 and 8045 Lamon Ave.), the majority of the leased 22.6-acre ISTP campus to Chicago-based investor Singerman Real Estate. The portfolio is comprised of a mix of highly technical wet lab and GMP space and is home to established global life sciences brands as well as prestigious university affiliated venture backed startups.
