Although terms were not disclosed, space in area is on the market at $4.50 per sf and up. Meanwhile, overall vacancy in the O'Hare submarket has increased to 10.3%, with another 407,771 sf under construction, according to Delta Associates' most recent market report.
Mark Baumhart, CCIM, of Arthur J. Rogers & Co. represented Quality Screw & Nut in negotiations with Hamilton Partners' John Baxter as well as Mike Sedjo of CB Richard Ellis, who represented GE Medical. The sublease was extended to dove-tail with the new lease, Baumhart says.
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