DOWNERS GROVE, IL-Sun Life Financial has boosted occupancy at its Highland Atrium property at 1101 W. 31st St. to 93%. While rail maintenance company Rescar Inc. renewed its lease for 23,023 sf, Liberty Suburban Newspapers signed a new deal for 21,033 sf.
Vacancy in the eastern end of the East-West Corridor is 15.4%, according to Trammell Crow Co.'s most recent market report, with average asking rent at $21.18. Transwestern Commercial Services' Delta Associates puts vacancy in the entire East-West Corridor, the largest suburban submarket, at 18.8% despite 414,000 sf of positive net absorption so far this year. However, in addition to better-than-average occupancy, asking rent at the two-story, 24-year-old Highland Atrium is $19 per sf.
Trammell Crow Co.'s Douglas Shehan and Norm Murdoch handled negotiations for Sun Life Financial. JD Partners' Victor Sanmiguel represented Liberty Suburban Newspapers while the CB Richard Ellis team of Gary Fazzio and Jonathan Springer handled renewal negotiations for Rescar Inc.
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