Aurora Loan is subleasing the building near Interstate 25 and Lincoln Avenue from the Kansas City, MO-based mutual fund family, American Century Investments. About six weeks ago, American Century said it was downsizing and phasing out its metro-area operation.
The class A building was constructed in mid-2001. The lease may be the largest along the Southeast corridor this year.
"Aurora Loan understood and appreciated the many amenities this project had to offer," says Randy Swearingen, a Grubb & Ellis broker that represented American Century. "Unprecedented views, freeway signage, large floorplates, 18-inch raised floor throughout the building, a full-cooking cafeteria and health club were just a few of the features that helped convince Aurora Loan to look hard at the building. It will make a great corporate campus for them, allowing them room to grow while taking full advantage of the new light rail station and Marriott Hotel, both located just across the street."
Aurora loan was represented by Chuck Zeman and Matt Zeman of CB Richard Ellis' local office, in conjunction with its New York City office.
Swearingen says the transaction is good news for the Southeast Suburban office submarket as it removes a large block of available space from the market, which currently posts a vacancy rate of 25.2%.
During the third quarter, this area posted positive net absorption, its first positive activity since the first quarter of 2002.
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