Neither deal does anything to whittle away at a northwestsuburban vacancy rate recently pegged at 28.6% by US EquitiesRealty. First Midwest Bank will move from 300 Park Blvd., also inthe Chancellory office complex. And Chicago-based US Cellularalready was a sublease tenant at One Pierce Place.
However, the 525,000-sf One Pierce Place along Thorndale Avenueat Route 53 is 86% occupied, according to Houston-based HinesInterest. Although terms were not disclosed, published gross leaserates start at $23 per sf.
Project manager Creighton B. Wright and vice president TomD'Arcy handled negotiations for Hines Interests. ClairePaulson-Morabito and Craig Cassell of Grubb & Ellis representedFirst Midwest, Illinois' largest independent banking company. ReneeBetzelos and Chris Bargowski of ProTen Realty Group represented USCellular.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
