X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

DEERFIELD-American Realty Advisors has landed four new tenants who have taken 32,000 sf at Deerbrook Corporate Center. Meanwhile, in an unrelated north suburban office deal, Ayco Co. has restructured its 16,700-sf lease at Two Conway Park in Lake Forest.

Memphis, TN-based Sedgwick CMS signed an 18,177-sf lease at Deerbrook Corporate Center for its first satellite office in the market. Lewis Co. signed for 8,888 sf at the building at 570 Lake-Cook Rd., bringing occupancy there to 70%. Although terms were not disclosed, asking net lease rates at the 131,000-sf building are $12.50 per sf. “Logistically, the building’s location just makes sense and due to low taxes and competitive pricing the building will continue to attract tenants,” says CB Richard Ellis senior vice president Sean Kropke, who represented Los Angeles-based American Realty Advisors with James Otto.

Ayco, which had a lease into 2007 for 20,000 sf, subleased 4,000 sf last year. Studley executive vice presidents Rick Schuham and John Goodman took advantage of north suburban office vacancy rates in the 20% range to leverage a restructured deal with Multi-Employer Property Trust, represented by Kropke and Robert D. Graham. Asking net lease rates at the 120,354-sf Conway Park Corporate Campus building, now 89% occupied, are $17 per sf.

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

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 © 2021 ALM Media Properties, LLC. All Rights Reserved.