Alcatel-Lucent has not specified an asking price for the office property, which it previously used as a research and development center and will vacate entirely upon its disposition. UGL Equis is nearing completion on the offering memorandum. Christopher Wood, SVP and managing director with the real estate firm, says numerous parties have already expressed interest in acquiring the site. The company is marketing the property toward investors, developers and corporate users alike, he says.

"One thing that is unique about this property is that this is the most established and deepest office submarket in this area," Wood tells GlobeSt.com. "The ability to establish a 1.2-million-square-foot footprint in this submarket is not easy. The successful party to acquire the campus will immediately get a significant presence here."

The campus is located in the East-West corridor, where occupancy rates are around 80% and asking lease rates near $27 per square foot gross, according to Cushman & Wakefield's Q4 office market report.

Alcatel-Lucent has substantially reduced its occupancy of the campus over time and owns other property in the area, including a facility in Naperville, which will support its operations after the Lisle campus' sale.

"Like a lot of corporate America, Alcatel was looking at their business drivers and where their business is," Wood says. "This campus is superfluous to their current requirements and they want to monetize it."

Instant Insights /

Alcatel-Lucent Puts 1M-SF Campus On Market

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