X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

LISLE, IL-At first glance, Duke Realty Corp.’s $11-million purchase of 2275 Cabot Dr. here did not offer much in the way of immediate upside. But look again—the Indianapolis-based office and industrial REIT has signed McCain Foods USA to a 10-year lease on the entire 94,375-sf building, which had served as headquarters for Wallace Computer Systems Inc.

The building hit the market following the merger of Wallace Computer Systems with Chicago-based R.R. Donnelley Sons Co. While Duke Realty Corp. was able to pick up the office asset for less than $117 per sf, there is 1.8 million sf of sublease space available in the East-West submarket, where occupancy is softer at the western end. Although financial details of McCain Foods USA’s deal were not disclosed, asking office space net lease rate in this DuPage County suburb start at $11 per sf. McCain Foods USA is moving from the eastern end of the submarket, as it plans to relocate later this year from 50,000 sf at 2905 Butterfield Rd. in Oak Brook.

While looking for space, McCain Foods USA considered buying a building as well, reports Vic Toft of CB Richard Ellis, which represented the producer of one-third of the world’s French fries in lease negotiations along with Todd Lippman and Jon Springer. CB Richard Ellis also was involved in the sale of the building, as Scott Brandwein represented Wallace Computer Systems and R.R. Donnelley Sons while the trio that handled the lease for McCain Foods USA also served as Duke Realty Corp.’s brokers during the purchase.

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?

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.