Podolsky says his firm completed a massive renovation project at the two-building complex. "We renovated everything, including the lobbies and common floors. The property had been 49 percent, we brought it up to 75 percent leased," he says. Podolsky's firm had been leasing the managing the building, but the sale ended that relationship, he says.
The complex features a 710-car parking garage, and is at the southeast corner of Skokie Boulevard and Golf Road. Tenants include Reznick Group, High Tower and Accuity.
Podolsky said the creation of one of two office building-to-garage pedestrian walkways was the catalyst in a transaction in late 2004 with HighTower Inc., which signed a long-term lease for more than 12,000 square feet of space. HighTower has direct access to the parking garage from its offices. Bethesda, MD-based Reznick Group, a national accounting, tax and business advisory firm, leased 33,157 square feet, allowing the firm to expand its presence in the Chicago market and avoid unwanted subdividing costs. Reznick occupies the entire second floor. To provide the firm with direct access to parking, Podolsky added a new entrance from the building to the parking structure.
Jay A. Gitles and Scott Buser of Seyfarth Shaw were the attorneys representing Podco Concourse in the transaction. Podolsky, John Homsher, principal and Adam Tarantur, associate, represented the seller.
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