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CHICAGO-Transwestern’s Chicago office was recently hired to lease up three suburban office properties, including the three-building Continental Towers, in Rolling Meadows, IL, which is currently about 80% leased and will have more than 100,000 sf of contiguous space available, Fred Ishler, SVP with Transwestern, tells GlobeSt.com. Prime Group Realty Trust, based here, has hired Transwestern’s Chicago office to lease up three suburban office properties totaling 1.2 million sf.

Ishler, Joseph Stevens, Dan Svachula and Zachary Fox will lease the properties in conjunction with Julie Mertins, assistant VP of leasing with Prime Group Realty Trust. Prime Group Realty Trust had been doing its own leasing but decided to hire a third-party to lease up the large amount of vacant space. “There is a lot of opportunity just because of the general softness in the suburban market,” Ishler says. “They have a lot of space to lease here. We view the vacancy as opportunity.”

The Continental Towers complex consists of three buildings at 1701 Golf Rd., Rolling Meadows, IL. The three buildings have a total of 910,796 sf and are about 80% leased. American Express Travel Related Services Co. Inc. recently renewed for 23,726 sf and Environmental Resources Management Inc. recently renewed for 23,608 sf, as reported by GlobeSt.com. “We will have one of the largest blocks of available space in the Northwest suburban market,” he says. The asking lease rate is $25.50 per sf, gross, Ishler says. Major tenants in the complex include Aon, Komatsu America Corp. and Fifth Third Bank.

The two-building office complex at 800 and 810 Jorie Blvd., in Oak Brook, IL, have a total of 193,689 sf. XO Communications Services Inc. recently renewed for 32,210 sf and Clearblue Technologies/Oak Brook Inc. recently renewed for 16,780 sf but the building is more than 55% vacant, as reported by GlobeSt.com. The property is in the East-West Corridor, which can explain for some of the high vacancy in the buildings. “The East-West Corridor has been a somewhat soft market,” Ishler says. Major tenants in the complex include AboveNet Communications Inc. and Norlight Communications. The asking lease rate is $22 per sf, gross, Ishler says. The Olympian Office Center, 4343 Commerce Ct., Lisle, IL, is a seven-story building with 167,756 sf in the western part of the East-West Corridor. The building has “One full floor and then some other smaller spaces to lease,” Ishler says. The asking lease rate is $23 per sf, gross.

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