CHICAGO—The Missner Group has just completedphase one of the capital improvement project at Continental Towersin suburban Rolling Meadows, another step in the new owner'sattempt to reposition and revive the 911,341-square-foot complex.Glenstar Properties, LLC bought the three 12-storybuildings in 2013, shortly after occupancy had sunk to less than50%.

Glenstar committed $8 million to upgrade and reposition thebuildings, located at 1701 Golf Rd., and Skokie, IL-based Missnerwill soon begin phase two. The first phase included interiorrenovations to the complex's common areas. Renovations to each ofthe three lobbies included the addition of decorative drop ceilingsand extensive millwork.

The new owner has made progress. As reported in GlobeSt.com,Komatsu America Corp., the US subsidiary ofKomatsu Ltd., the world's second largestmanufacturer and supplier of earth-moving equipment, recentlyrenewed its 105,437-square-foot lease. And last year,the occupancy rate reached 62% after Glenstar completedseven new leases. In the largest of the those leases,Ceannate Corp., a student loan collector, expandedby almost 50%, taking an additional 23,682-square-feet, bringingits total to 74,340-square-feet.