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CHICAGO-Verizon Business Services has signed a lease renewal for 41,121 sf at 8750 W. Bryn Mawr Ave. and the Regus Group has signed a lease renewal for 36,438 sf at 8770 W. Bryn Mawr Ave. The two buildings, which total 631,445 sf, are collectively known as Triangle Plaza. The terms of the lease renewals were not disclosed but the Regus Group renewal is a long-term lease, says Howard Meyer, SVP with the John Buck Co.

Meyer represented Buck, which owns the building, in the lease transactions. Tim Hart and Greg Mika, both with Staubach Midwest LLC, represented Verizon and Baron Aldrine, David Justh and David Saad, all with CB Richard Ellis, represented Regus in the lease transactions. MCI, which merged with Verizon, became a tenant in the building in 1990, Meyer says. Regus has been a tenant since 1998.

The two buildings are currently 96% occupied but that number is expected to drop to 71% as of April 1, Meyer tells GlobeSt.com. “There is 170,000 sf that will be available,” he says. A lease for some of the space used by anchor tenant Rexam expires March 31. Several companies had been subletting the space and will be leaving the building, including NES Rental Holdings Inc., JDM and EMC, which had been subleasing 70,000 sf. The asking lease rate is between $16 and $17.50 per sf, net. Besides Rexam, other major tenants include Wilson Sporting Goods and Anheuser-Busch Cos., Meyer says. The building was constructed in 1985 and acquired by the John Buck Co. in 2006, he says. The sales price was nearly $92.3 million, sources say.

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