Brian Askins, a VP with Equis Corp., represented the company in the lease with landlord Precedent Real Estate Services, assisted by SVP Marc Schwartz. Askins says Clifton wanted to show more of a presence. "They liked the building and the landlord, and they wanted to update their image. They like the idea of being able to be open to a client right out the elevator," he tells GlobeSt.com. The company has the naming rights on the building.
The firm also has grown significantly since it started leasing the building in 2000, says Walter Kelly, managing partner of Clifton's client services center, in a statement about the lease. The 47-year-old company is based in Peoria and has offices in 17 states.
The rest of the building is occupied by Precedent, which occupies the first floor, Askins says. The area demand has been nominal, he says, with an average 17% vacancy rate. "It's not too bad, but it's been better in the past," he says. He wouldn't divulge the lease terms, but says asking rates in the office park are between $19.50 to $22 per sf. Darrell Pike represented the landlord in the lease.
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