NAPERVILLE, IL-The Midwest division of Ryan Cos. US Inc. has relocated to its 10-year lease at the new 85,000-square-foot Delta Dental building here at 111 Shuman Blvd. The construction company built the $15 million office for the insurance firm, with the understanding that Ryan would eventually lease about 20,000 square feet at the top floor.

Ryan, based in Minneapolis, has moved into this new Chicago-area space, designed by VOA Architects. The company’s lease ran out at its former offices at 55 Shuman Blvd., just east of the new facility.

Delta moved 170 employees in June from Lisle, IL into its new space, one of the last new office buildings constructed in the East-West corridor since the full recession hit. Tim Hennelly with Ryan said that more new construction isn’t likely, and his firm is mostly working on medical office and non-profit projects.

The lease rate on the deal is not clear, though it’s likely less than the $26 per square foot being quoted for the area when the project was announced in early 2009. The combined corridor has more than 31 million square feet, but occupancy has dropped down to almost 75%.

Ryan is managing the building, and tried to create the best space it could for itself, said company officials. Included is a few style accents in honor of the founding company, Ryan Lumber & Coal Co. of Hibbing, MN. Included in the space is an exposed 66-foot steel beam, and reclaimed wood for the walls and ceiling, reminiscent of the design, construction and finish of a lumberyard, company officials said.  

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