CHICAGO-Lawson Products, an industrial distributor of maintenance, repair and operations supplies, has signed a long-term, 86,313-square-foot lease at 8770 Bryn Mawr Ave. in Triangle Plaza for its new corporate headquarters. The three-party transaction—a 17,061-square-foot direct lease from building owner CommonWealth REIT and a 69,252-square-foot sublease from Alcan Corp.—makes Lawson the largest tenant in the building.

The company will take the entire fifth, sixth and ninth floor, as well as the majority of the fourth floor, which amounts to roughly 27% of the office space in the 315,423-square-foot property. Occupancy is scheduled for March.

Executive vice president Joe Learner and associate director Jon Azulay of Studley negotiated the transaction on behalf of Lawson Products. Howard Meyer, of the John Buck Co., represented Commonwealth REIT. Alcan Corp. was represented by Steven Bauer and Frank Franzese of Cushman & Wakefield.

Studley tells GlobeSt.com that it cannot discuss further lease terms at this time in terms of aggregate lease value; however they did say that asking is $16.50 net.

As the largest tenant in the West Tower, the Lawson Products name and logo will be displayed in the building’s marble lobby, as well as on the roof and on the gateway monuments at the complex entrance.

8770 Bryn Mawr Ave., Triangle Plaza’s West Tower, is a 14-story class-A office building in the O’Hare submarket, offering easy access to suburbs and downtown via interstate highways, a CTA Blue Line rapid transit station and shuttle service to O’Hare Airport. The complex also offers onsite food service, a remodeled, 10,000-square-foot fitness center, convenience store, car wash and reserved indoor executive parking.
Lawson is relocating its corporate headquarters to Triangle Plaza from 1666 E. Touhy Ave. in Des Plaines, IL, where the company owns a mixed-use building that has housed its offices and its manufacturing facility for more than three decades.

Studley’s Learner tells GlobeSt.com that the reasons for the relocation include: the fact that the company had been at its owned facility for more than 35 years and that it was shared with the distribution facility; recruitment and retention issues; the new facility is closer to public transit; has good amenities; and allows for corporate rebranding.

According to Learner, “Thanks to favorable market conditions and an advantageous sublease, we were able to negotiate an agreement that provides Lawson Products with well-located, state-of-the-art office space, poised to aid the company in recruitment, retention and brand recognition.”

According to a recent Q3 Studley report on the office marker, downtown continued to show signs of modest improvement in the third quarter as several significant relocations and expansions were completed. Leasing activity fell only slightly in the quarter, inching down by 4.4% from 2.3 million square feet to 2.25 million square feet. Additionally, the market seems to be experiencing some momentum as several notable tenants are in the market with substantial lease requirements, the report says.

Instant Insights /

Lawson Products Takes 86,313 SF at Triangle Plaza

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