Negotiations on the renewal also had an air of familiarity, as HSA Commercial Real Estate SVP Doug Reed again handled negotiations for the company. He was one of the first leasing agents during the business center's development in 1996 and 1997. Meanwhile, Bill Frain of CB Richard Ellis represented Office Concepts Inc.
Green Oaks Business Center is in a far north suburban submarket that enjoys a 7% vacancy rate, according to Grubb & Ellis' most recent industrial market report, bested only by the western suburbs of Cook County. Asking rents for industrial space ranges from $4.77 per sf to $8.21 per sf, according to Grubb & Ellis.
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