National-Louis University's deal fills the 99,329-sf property, as well as bolsters a trend seen in the hard-hit western end of the East-West Corridor. "The Lisle/Naperville submarket had an exceptionally strong quarter as leasing topped the historical record," according to Cushman & Wakefield's most recent market report. "Of the 658,000 sf of deals signed in this area, 73% of the deals were in class-A space."
Although terms were not disclosed, published asking net lease rates at Prentiss Properties' buildings are $14.50 per sf. The deal was the second largest in the area, as ConAgra signed a 167,260-sf lease at 215 W. Diehl Rd. in the third quarter, Cushman & Wakefield research notes. Nonetheless, overall vacancy in the western end of the submarket stands at 31.2%, the worst in the suburbs by nearly seven percentage points.
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