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LONG GROVE, IL-Dovenmuehle Mortgage Inc. has signed a 64,188-sf lease at Park Center at Kemper Lakes, becoming one of the largest tenants in the renovated 1.1-million-sf property formerly occupied by Kemper Insurance Co. The mortgage servicing company is relocating operations from Schaumburg to 1 Corporate Dr., one of four buildings acquired last year by BPG Properties, Ltd.

Joining Dovenmuehle Mortgage will be floor heating systems provider WarmlyYours, which signed a 11,046-sf deal for space in 2 Corporate Dr. Meanwhile, Austin, TX-based Freescale Semiconductor is expanding its lease at 4 Corporate Dr. to 63,102 sf, an increase of about 40%.

Although terms were not disclosed, gross lease rates at the office complex on 164 acres along Route 22, next to the Kemper Lakes Golf Course start at $20 per sf. The repositioning experts paid $30.5 million to Kemper's Lumbermens Mutual Casualty Co. a year ago, and are spending another $15 million on renovations.

Kent Ilhart of Cushman & Wakefield represented BPG Properties, Ltd. in negotiations on the Dovenmuehle Mortgage and Freescale Semiconductor leases. Dennis Redmond of NAI Hiffman represented Dovenmuehle Mortgage and Susan Rosen of Cushman & Wakefield represented Freescale Semiconductor. Colliers Bennett & Kahnweiler Inc.'s Dave Florent represented the operating affiliate of Philadelphia-based Berwind Property Group in the WarmlyYours lease negotiations with David Tepper of ChicagoBroker.com.

Instant Insights /

Dovenmuehle Relocates to 64,188 SF at Kemper Lakes

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