From Office Space to Data Centers
Sears’s parent company is selling its Chicago-area headquarters campus to a company that plans to build a giant data center on the site.
According to TheRealDeal.com, “the 197-acre property, located at 3333 Beverly Road in Hoffman Estates, Illinois, has long been home to Sears’ massive 2.4-million-foot campus of interconnected buildings. However, those buildings are slated for demolition to make way for high-powered data centers designed for cloud data storage, highlighting the trend of taking outdated corporate campuses and finding new purposes for them.”
CoStar reported that “the sale continues a string of such deals throughout the country amid historically low office demand and an increased need for things such as data storage and logistics space. In another major project near Chicago, industrial developer Dermody Properties is in the process of replacing insurance giant Allstate’s former offices with warehouses.”