Although terms were not disclosed, published net lease rates at the 234,000-sf development at 5400 and 5500 N. Pearl St. are $17 per sf.
In an unrelated deal, EGS Electrical Group LLC leased 71,278 sf at 9377 W. Higgins Rd. The electrical components and fixtures maker is relocating from Skokie. Paine/Wetzel · ONCOR International Curt N. Stanton represented EGS.
Xerox will relocate from nearby Park Ridge while Advocate Labs will consolidate operations now in multiple locations. The two new tenants are the second and third, with World Kitchens Inc. already on board.
The complex is developed and managed by Northern Builders but owned by TA Associates Realty. CB Richard Ellis' David Justh and Bill Elwood represented TA Associates Realty in negotiations with Jones Lang LaSalle brokers representing Xerox. CB Richard Ellis' Gary Fazzio represented Advocate Labbs. Elwood, Fazzio and Justh all work out of CB Richard Ellis' Oak Brook office.
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