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ROLLING MEADOWS, IL-Komatsu America Corp. has signed one of the largest deals this year in the northwest suburbs, taking 105,437 sf at Continental Towers, bringing occupancy at the three-building complex along the Northwest Tollway to 93%. Relocating its headquarters from space in Downers Grove and Vernon Hills, the construction and mining equipment maker has committed to a 15-year deal with Prime Group Realty Trust, which recently was acquired by Lakewood, NJ-based Lightstone Group.

Although financial terms were not disclosed, asking net lease rates at the property are $14.50 per sf. Continental Towers is the largest suburban asset in Prime Group Realty Trust's portfolio.

"Integrating offices from two locations meant it was important to find a site that would be a convenient mid-point for our employees," explains Komatsu America Corp. chief executive officer Dave Grzelak, whose company relocates 300 employees to 1701 Golf Rd. "Once we selected Rolling Meadows, we found that the space at Continental Towers would provide all of the technological amenities required for a global company."

David Howorka and Julie Mertins handled negotiations for Prime Group Realty Trust. Mike Hull of Mike Hull Co. represented Komatsu America Corp., whose space requirements rivaled PepsiAMerica, which signed a 114,000-sf deal earlier this year at 1475 E. Woodfield Rd. in Schaumburg; and Career Education Corp., with took 125,000 sf at 1750 E. Golf Rd. in Schaumburg.

Instant Insights /

Komatsu Takes 105,437 SF at Continental Towers

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