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SCHAUMBURG, IL-Zurich has retained UGL Equis to market for sublease 225,000 square feet of its office. The global property and casualty insurance provider plans to consolidate the 850,000 square feet it leases at the two-building Zurich Towers office complex through October 2016. The company previously occupied the entire 20-story buildings but plans to restructure employees to free up 11 floors in Tower II for sublease.

“Zurich is offering what we believe is the best location in the northwest suburbs, based on access, amenities and location,” Todd Mintz, EVP with UGL Equis, tells GlobeSt.com. “Combined with Zurich’s long-term lease position in the building, our analysis and approach can provide subtenants a much more attractive lease and concession package compared to other competing landlords in the area.”

Zurich has occupied Tower I and II, at 1400 and 1450 American Ln. respectively, for about two decades. Built in 1986, the buildings are connected by a skylight atrium and offer amenities including a full-service health club, covered parking, multi-station cafeteria serving breakfast and lunch, coffee bar, wireless Internet capability, and an on-site dry cleaner, convenience store and hair salon.

The property is in the northwest suburban submarket, where occupancy rates are near 74% and asking lease rates around $24 per square foot gross, according to Cushman & Wakefield’s year-end office market report. The office complex is near Route 53 and a large amount of restaurants and shopping, including Woodfield Mall.

The building is owned by Inland Western Retail Real Estate Trust Inc., which bought it in 2004 from Crystal View Shopping Center LLC for around $138 million, sources say.

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