X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

OAKBROOK TERRACE, IL-EMC Insurance Cos., headquartered in Des Moines, has renewed a lease for 18,720 sf at the Oakbrook Terrace Corporate Center, 1815 S. Meyers Road. The renewal is for a six-year term and will extend the lease until 2018.

Chris Wood and Steve Schneider, both with UGL Equis, represented EMC Insurance. Francis Prock, with Colliers Bennett & Kahnweiler, represented building owner Colony Capital. EMC Insurance has been a tenant in the building since 2002. The property and casualty company had moved to the building in 2002 because “it was a good location for employees and serving their client base,” says Wood, SVP and managing director of UGL Equis. By renewing now, the company was able to receive “some concessions that allow them to do some things to the space and some free rent,” he says.

The 10-story, 232,000-sf building, which was constructed in 1991, was acquired by Colony Capital in 2005 for nearly $26.2 million, sources say. The building is about 83% leased, Wood says. Other tenants in the building include USA Financial Management, Maritz Inc., Alaris Consulting and the Illinois Park and Recreation Services Association. The asking lease rate for the building is $14.50 per sf, net.

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?

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.