X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

OAKBROOK TERRACE, IL-PSI, Inc. has sub-leased 29,728 sf in a 324,000-sf office building at 1901 S. Meyers Rd., in Oakbrook Terrace Corporate Center, a small piece of the 2.4 million sf of sub-lease space available in the East-West Corridor. However, the expanding engineering firm is moving from nearby Lombard, which does nothing to reduce the submarket’s 13.3% direct vacancy rate, according to U.S. Equities Realty, Inc. research.

Colliers Bennett & Kahnweiler Inc. senior vice president Joseph J. Dvorak, SIOR, represented PSI, Inc. along with senior associate Keith A. Edelman. Colliers Bennett & Kahnweiler Inc. associate Peter O. Bourke represented the sub-lessor.

“Our focus was to significantly reduce occupancy costs for our client,” Dvorak says. “We were able to provide PSI with the space and rental rates needed to satisfy their requirements.”

Meanwhile, Pellettieri & Associates is relocating from 111 W. Jackson St. in the Loop to 16,125 sf at 1980 Springer Dr. in Lombard after signing a 10-year lease. Equis Corp. vice presidents Steve Schneider and Valter Kalaus represented Pellettieri & Associates while John Coleman of the Alter Group represented building ownership.

Equity Office Properties picked up a new tenant at One Lincoln Centre in OakBrook Terrace, where Dallas-based Internet consulting firm Buchanan Associates has signed a three-year lease on 9,165 sf. Richard Plonsker and Joe Day of Cushman & Wakefield represented Buchanan Associates.

In Oak Brook, Legato Systems, Inc. signed a five-year lease for 5,961 sf of new office space at 1301 W. 22nd St. in the Oak Brook Executive Plaza. The technology firm relocated from Equity Office Properties’ Westbrook Corporate Center. Equis associate Jeff Miller represented Legato Systems and Diana Riekse of Cushman & Wakefield represented the building owner.

On the other end of the East-West Corridor, St. Louis-based investment firm A.G. Edwards & Sons, Inc. has signed a five-year lease on 4,756 sf in the United Community Bank building at 1026 Ogden Ave. in Lisle. Equis Corp. senior vice president Michael Bishop and associate Josh Wheeler represented A.G. Edwards & Sons.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.