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NAPERVILLE, IL-PMA Financial Network has signed an 11-year lease for 34,000 square feet at CityGate Centre. The governmental finance firm will relocate its headquarters from Warrenville to the first building of the mixed-use development at 2135 CityGate Lane in April. The 31-acre development is expected to cost around $300 million and offer one million square feet of office space, 150,000 square feet of retail, and the 144-room Hotel Arista. The project, at the Interstate 88-Route 59 interchange, is being developed by Calamos Real Estate LLC.

“It was part of PMA Financial’s long-term strategy to get into a newer, more technologically-advanced building to be able to keep up with their growth as a company,” Brian Whiting, SVP with J.F. McKinney & Associates, tells GlobeSt.com. “This is the best quality office space in the western portion of the East-West corridor. We’ve been able to draw on users that are looking for higher-technology, environmentally-friendly, LEED-certified green space.”

Office occupancy rates have fallen to nearly 80% in the suburbs, including the East-West corridor submarket in which this development is located. PMA Financial’s lease brings the building, which was developed on spec in late 2007, to about 50% leased. Other tenants in the 212,000-square-foot, seven-story building include Smith Barney, Amata Office Suites, and Calamos, which operates an office there. Asking lease rates in the building are around $19 per square foot, net, Whiting says.

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