CHICAGO—Like many prominent office developments in the suburbs, Continental Towers in northwest suburban Rolling Meadows saw its occupancy level plunge in the last several years. But in 2013, after occupancy had sunk to less than 50%, GlenStar Properties bought the 911,341 square foot project and set about reviving it.
The Skokie, IL-based Missner Group has just begun the second phase of the $12 million capital improvement project launched by GlenStar. In the recently completed first phase, the three-tower office complex located at 1701 Golf Rd. received updated lobbies, renovated tenant corridors and washrooms as well as upgraded elevator systems. Missner will now complete significant renovations to the property's exterior.
The company will construct a new main entrance with decorative lighting, ornamental canopied entry ways to each of the buildings with covered pick-up/drop-off areas as well as incorporate additional landscaping features. Missner will also clean and re-seal the buildings' exteriors, add new accent LED lighting to the buildings' entrance façades and parapets. The second phase will also include the construction of a new four-story parking garage built over an existing detention pond. The new garage will offer parking for 735 vehicles. Missner will also resurface the existing parking lots which accommodate up to 2,550 vehicles.
The improvements have helped GlenStar bring back the suburban office complex. As reported in GlobeSt.com, the company recently signed Panasonic Corp. of North America, the Newark-based subsidiary of Panasonic Corp., to a long-term lease for 48,813 square feet. The lease brought the occupancy up to 70%, according to GlenStar's Dave Trumpy. Komatsu America Corp., the US subsidiary of Komatsu Ltd., recently renewed its 105,437 square-foot lease. And last year, Ceannate Corp., a student loan collector, expanded by almost 50%, taking an additional 23,682 square feet, bringing its total to 74,340 square feet.
Missner's vice president of construction Drue Stoehr, along with senior project engineer Uros Stojakovic and site superintendent Gary Bertoncini will lead the construction team. ARCHIDEAS will provide the architectural services. The team will complete the job by spring 2016.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
