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CHICAGO-The West Loop submarket continues showing signs of strength with Office Concepts Inc. signing a 10-year lease for 63,000 sf at 949-65 W. Chicago Ave. Office Concepts is paying $5.50 per sf for the office and warehouse space, expanding operations from its current West Loop location about one mile south at 1100 W. Monroe St.

The deal is worth more than $3.5 million, according to Cushman & Wakefield. It includes 12,000 sf of office space. Two of the firm’s brokers based in Rosemont, IL, Keith Puritz and Brett Kroner, represented property owner Glenmoranjie Limited Partnership. Mike Senner of Colliers Bennett and Kahnweiler represented Office Concepts, an interiors firm.

Office Concepts’ current location, a 91,800-sf building, was sold earlier this month for $1.8 million. Cushman & Wakefield notes the Central Business District has six projects underway totaling 4.5 million sf, three of them expected to come on line this year and add 2.2 million sf to the submarket.

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