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BOLINGBROOK, IL-Quebecor World Logistics Inc. has signed a lease for 69,484 sf at Tallgrass Corporate Center, 1000 Remington Blvd., including 60,237 sf of office space and 9,247 sf for a data center. Quebecor, which produces publications, catalogs and commercial work, will move about 300 employees to the Tallgrass Corporate Center, says Joe Neverauskas, senior vice president with BPG Properties Ltd.

Quebecor is consolidating about 46,000 sf of offices in Bensenville and Arlington Heights and some of the office employees from warehouse space leased by Quebecor in Bolingbrook. Quebecor chose Tallgrass because it already leases space in Bolingbrook, and the proximity to highways, Neverauskas says. Tallgrass is also one of the few buildings in the area where large amounts of space can still be leased, he says.

The term of the lease is 10 years. Neverauskas would not disclose the lease rate but said the average lease rates for the building are between $13 to $14 per sf net. The lease has annual escalations and “nothing out of the ordinary” for incentives such as tenant improvement dollars, he says.

The building is currently 40% leased. “We have a couple other leases that we are negotiating on that will probably bring it up to about 70%,” Neverauskas says. The 548,000-sf Tallgrass Corporate Center sits on a 50-acre site and contains 374,000 sf of office space, 128,000 sf of manufacturing space and an approximately 46,000 sf of amenities. The first phase of Tallgrass Corporate Center was developed in 1993 by Tellabs in order to accommodate its research, development and manufacturing operations. BPG Properties Ltd. acquired the property from Tellabs in August 2004 for about $10 million.

BPG has plans to renovate the 128,000 sf of manufacturing space into additional office space and to create a main building entrance. Work is estimated to begin in about four months and will probably take about four months to complete. Neverauskas did not have an estimate for the cost of the project.

Francis Prock, senior vice president, and Dave Florent, associate, Colliers, Bennett & Kahnweiler Inc., exclusive leasing agent for the building, represented BPG in the transaction. Michael Burns, an SVP with Colliers Bennett and Kahnweiler Inc., represented Quebecor.

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