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LISLE, IL-Prentiss Properties has a rare tenant, as well as a rare asset, in the tech-ravaged East-West submarket, where vacancy was most recently pegged at 23.7%. The Dallas-based REIT’s building at 701 Warrenville Rd. is 100% occupied with telecommunications service provider T-Systems International’s expanding its lease to 42,198 sf.

T-Systems International moved into the 66,959-sf building, located near the intersection of the East/West and North/South tollways, in June 1998 after signing a lease for 6,782 sf.

SVP Ray Shealy reports T-Systems International has doubled in size in the past two years, while competing technology and telecom companies across DuPage County have dumped office space back on the market. T-Systems International now employs 200 people at its North American headquarters here.

On the other end of the East-West Corridor, San Francisco-based Matson Navigation Co. expanded its lease at Terrace Oaks I & II at 17W635 Butterfield Rd. in Oak Brook by 3,360 sf to 14,453 sf.

While terms were not disclosed, published net lease rates at 701 Warrenville Rd. are about $15.75 per sf. Published gross lease rates at Terrace Oaks are $21.50 per sf.

Tom Maschmeier of Prentiss Properties handled negotiations with T-Systems International for his company, which also owns the 323,000-sf Corporetum Office Campus property on the other side of Warrenville Road.

John R. Homsher and Thomas Callahan of Podolsky Northstar Realty Partners represented Matson Navigation, while Chris Surico of Grubb & Ellis represented Terrace Oaks Associates, LLC.

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