chi-scc (6) The Schaumburg Corporate Center, a three building, one-million-square-foot complex, was just acquired by GlenStar Properties LLC for $70 million.

CHICAGO—The region’s suburban office market recorded a slight drop in the overall vacancy rate during the first quarter, a welcome break from 2016, when vacancy increased in three out of four quarters, according to NAI Hiffman, which just released its latest market update. In the fourth quarter, vacancy had increased by 153 bps, largely due to the relocation or down-sizing of suburban mainstays like Zurich Insurance and AT&T.