ROSEMONT, IL-Trammell Crow Co. has taken over management and leasing of Teachers Insurance & Annuity Association’s 238,941-sf Columbia Centre III, where nearly one-third of the building is vacant. American Airlines and Ameritech/SBC remain as main tenants of the building at 9525 W. Bryn Mawr Ave., previously managed by Hamilton Partners.

“We are confident that Trammell Crow’s platform of deliverables, coupled with the strength of the Columbia Centre III ownership, will quickly lead to a dramatic change in occupancy status in the near future,” says Trammell Crow Co. principal Dave Petersen, who heads a Midwest property management group that now manages 13 million sf of office space.

Asking gross lease rates at the 15-year-old property near the CTA Blue Line’s River Road stop are $24 per sf. With total vacancy including sublease space at 24.5%, the O’Hare submarket is the strongest suburban submarket outside of the North suburbs, according to US Equities Realty’s most recent market report.

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