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WARRENVILLE, IL-Emerson Network Power Energy Systems of North America has renewed its lease for a 39,620-sf building at 4350 Weaver Parkway here. Emerson Network Power Energy Systems is a division of Cleveland-based Emerson and provides power, cooling and connectivity services for computer, healthcare and industrial businesses.

The lease is until 2011. Curt Stanton, with Paine/Wetzel•Oncor International represented Emerson. The building is owned by McShane Corp., based in Rosemont.

McShane constructed the facility as a build-to-suit project for Reltec approximately 10 years ago, Stanton says. Reltec was acquired by Marconi Communications, which was later acquired by Emerson Network Power, he says.

The initial lease agreement has a lease rate “above market” and the new lease agreement included a “significant rental reduction” and a tenant improvement allowance to refurbish the building, Stanton says. The lease rate was not disclosed but the asking lease rate for single-story office buildings in the area is about $14 per sf to $15 per sf net, Stanton says.

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