"This is our third speculative building in three years, andwe've leased both of the other ones prior to their completion,"says Donald Schoenheider, VP and city manager with Liberty. "Theaccess to Interstate 88 is very good, and we're right on a four-wayinterchange. Tenants have access to a well-priced labor base."

Liberty owns five of the eight existing buildings in thedevelopment, having built four and bought one. The existingbuildings range in size from around 200,000 sf to 700,000 sf.Asking lease rates in the complex are around $3.95 per foot, net,Schoenheider says.

The business center is located in the far west Fox Valleysubmarket, according to Schoenheider. "The market has been ratherstable," he tells GlobeSt.com. "Our vacancy levels are lower thanthe submarket vacancy rate, which is below 10%. Activity hasmaintained a level pitch and it's been relatively busy throughoutthe summer."