JLL Signs on as Anchor Tenant for Oakmont Point Project
JLL is expected to move its existing teams in Westmont and Lombard and its approximately 350 employees, to Oakmont Point this fall.
WESTMONT, IL—Commercial real estate services firm JLL has signed a lease to be the anchor tenant at the Ryan Companies’ Oakmont Point project here.
According to multiple press reports, JLL signed a lease for approximately 67,000 square feet of space with the Ryan Companies of Minneapolis and will consolidate its existing operations in the Westmont area to the $50-million Oakmont Point office complex currently being redeveloped.
JLL is expected to move its existing teams in Westmont and Lombard and its approximately 350 employees to Oakmont Point this fall. Ryan Companies will also partner with JLL’s Property Management team at Oakmont Point.
The Ryan Companies announced it had closed on the acquisition of the 275,000-square-foot 700 Oakmont Point office building back in February 2017 and is currently redeveloping the complex.
When the redevelopment project is finished, the new office park in the I-88 corridor will feature three buildings that can accommodate users from 25,000 square feet to 275,000 square feet. The project also includes: all-new efficient mechanical, electrical and plumbing systems plus open floor plans supporting modern Class A tenants.
According to the property’s website, the planned Oakmont Point property will feature buildings of 130,000 square feet, 100,000 square feet and 45,000 square feet.
“We are the only property offering a premier redevelopment like this and high parking ratios in the corridor,” says Curt Pascoe, development director at Ryan Companies. “Redeveloping the existing structures has allowed us to envision our amenities as the focal point of the buildings, creating engaging and active space for today’s employees to thrive. It is especially rewarding to see an underutilized property come to life.”
“At JLL, we are always looking for ways to optimize our own portfolio, just as we do for our clients,” says Mahesh Vidyasagar, SVP of corporate real estate and workplace for JLL. “Oakmont Point is a long-term, strategic location for us that will provide a collaborative, state-of-the-art office environment for both our existing and future employees.”
JLL was looking for a location that provided excellent amenities and ample parking in a location at the east end of the I-88 corridor, Ryan Companies notes. One of the key factors in the move was the location that allows JLL to draw employees from the suburbs and from the City of Chicago.
Amenities at Oakmont Point, which is located on Route 83 and is minutes from I-294, include a conference center, Wi-Fi lounge, fitness center, deli and active outdoor spaces including a 3.6-acre water feature. It also offers 120 below-grade executive parking stalls and can support parking ratios of 6/1000 and higher.