BOLINGBROOK, IL-Berwind Property Group has readied its Tallgrass Corporate Center, which it acquired from Tellabs this summer for $9.9 million, for new tenants. The Philadelphia-based real estate investment management company has hired a Colliers Bennett & Kahnweiler Inc. team to lease the 550,000-sf property at 1000 Remington Blvd., in the Remington Lakes Business Center.

The Colliers Bennett & Kahnweiler team includes office and industrial brokers. Senior vice president Francis R. Prock, associate David W. Florent and client services coordinator Kelly Pfister come from the office side of the operation, while vice president Charles V. Canale and senior vice president Brenda A. Crisp, RPA, CCIM represent the industrial side of the team. “A multi-discipline approach was appropriate, because Tallgrass is the only major office/R&D/manufacturing campus in the highly industrialized I-55 Corridor,” says Berwind Property Group senior vice president Joseph I. Neverauskas.

Prock suggests the building, which is being offered fully furnished, has a future as a corporate headquarters for an electronics or pharmaceutical firm. The building was constructed in two phases, 236,000 sf in 1993 to accommodate Tellabs’ need for research and development space, then 314,000 sf that includes a cafeteria, conference rooms and fitness center. The second phase was used by Tellabs for data processing space.

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
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

 

GlobeSt Net Lease Spring 2023Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information
 

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 © 2023 ALM Global, LLC. All Rights Reserved.