Pat Ryan and William Kerrins, both with Paine/Wetzel•OncorInternational, represented Office Depot in the lease transaction,along with Medwin and Harry Wardell, with Lincoln. John Gledhill,first vice president with CB Richard Ellis, represented JamesCampbell Co. LLC, the landlord of the property based in Hawaii.
Best Buy had been a tenant in the property, but relocated toanother town south of Carol Stream, Gledhill says. The renovationsto the expanded area are expected to be complete within the next 30days, Medwin says. Office Depot signed an additional lease for theexpansion and extended its original lease. The terms of the leasewere not disclosed; however, Gledhill tells GlobeSt.com that theasking rate for the building is $4.40 per sf net and "standardleases of this size are often five to seven years in length."
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