The four-story building is expected to be a single-tenantbuilding, like the majority of the buildings in Conway Park, hesays. Construction is expected to start in June and be completed inthe summer of 2009, Schnur says. Asking lease rates have not beendetermined yet, but the asking lease rate for the market is $20 persf net, he says.Duke is still working on designs for thebuilding

Wintrust had acquired the parcel a couple of years ago. "Theybought it to put their corporate headquarters on the site [but]their strategy has changed," Schnur says. Jack Frigo, with Frigoand Co., represented Wintrust in the sales transaction. RyanO'Leary, VP with Duke, represented Duke in the transaction. Thespeculative building will be the fourth project Duke has developedat Conway Park. "We have done two buildings in the past two yearsat that park," Schnur says.

The newly acquired site is located adjacent to the 140,000-sfCadence at Conway office building, which Duke sold to Hospirareportedly for $30 million. Construction is under way on West Lakeat Conway, another three-story 100,000 sf office building at 1925W. Field Court. Construction on West Lake at Conway is expected tobe completed in the spring. Akorn has a 10-year lease for 35% ofWest Lake, as previously reported by GlobeSt.com. The asking leaserate for West Lake at Conway is $19.50 per sf net, Schnur says.Duke also developed One Conway Park, a three-story 100,000-sfoffice building which is 99% leased.