Mark Moran, Dan O'Neill, and Jim Adler, EVPs with NAI Hiffman, represented the building owner, a private investment firm which has owned the 31,000-square-foot, single-story building since developing it in the 1980s. Greg Quadrini with Cushman & Wakefield represented LGS Innovations in the lease.

"Lucent is putting its current headquarters at Warrenville Road and Naper Boulevard on the market," Moran tells GlobeSt.com. "They built the facility for themselves and they have much more office space than they need. They needed this space to be away from the Lucent headquarters as part of the criteria, but they wanted to be close."

National Propane Gas occupies the remaining 10,500 square feet of the now fully-occupied building, where asking lease rates are around $12.50 per square foot, net, plus $3 in operating expenses, Moran says. LGS Innovations, which began operations just more than two years ago, has a government contract for testing fiber optics that will be serviced out of this location. The space will be built-out to offer testing labs.

The property is in the Interstate 88 corridor, where asking lease rates for office are around $26 per square foot, gross, according to Cushman & Wakefield market research. Cushman & Wakefield's research puts occupancy rates in the submarket in Q3 around 80%. "There is a fair amount of vacancy in the East-West corridor office market in general," Moran says.