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ROSEMONT, IL-After exploring other locations in the submarket, Advance Transformer Co. decided once again to keep its headquarters at the O’Hare International Center, signing a long-term renewal for 101,150-sf. The ballast manufacturer also will do renovations on its space at 10275 W. Higgins Rd. as part of the deal.

Julien J. Studley, Inc. executive vice president Joe Learner and senior managing director Terry Mostrom represented Advance Transformer Co. in its second renegotiation of its lease. Dan Hession of Simon Property Group represented building ownership.

Terms of the lease were not disclosed. However, research by Marcus & Millichap and U.S. Equities Realty, Inc., place the high end for class A space at $18 per sf, which would mean the deal could be worth up to $1.8 million per year.

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