Flynn and Brian Edgerton, VP, represented Midas. PatrickMcKillen, with Hamilton Partners, represented the Chicago-baseddeveloper. The automotive retailer had sublet the entire 108,332-sfbuilding since 1999 from Cendant Corp., which is now Avis BudgetGroup Inc. The sublease would have expired at the end of this year,Flynn says.

The two-story building was constructed by Hamilton Partners as abuild-to-suit project for Cendant, Flynn says. Midas had areduction in the amount of space the company needed because it isno longer manufacturing and distributing parts, he says. Thecompany had used some of the building's space to oversee theordering of raw materials, payment to suppliers and otherwisemanaging the supply chain, Flynn says.

The 62,599 sf will continue to house Midas' North Americanheadquarters and the company will also move its training operationsto the facility. Midas had been leasing about 4,000 sf to 6,000 sfin Palatine, IL for its training operations, Flynn tellsGlobeSt.com. The asking lease rate for the available space at 1300N. Arlington Heights Rd. is $21.79 per sf, gross. The market rentalrates when Midas signed the sublease was approximately $25 per sf.The company Midas received a tenant improvement allowance of $1million, Flynn tells GlobeSt.com.