The first building will be an 11-story facility totaling 263,000 sf of office space. McShane will relocate about 80 employees from another Rosemont location. According to ORIX officials, leases for an additional four and a half floors totaling over 110,000 sf are in final negotiations. When these are finalized, Pointe OÕHareÕs first building, scheduled to open in late 2001, will be over 50% pre-leased.

In a separate transaction, ORIX closed on the purchase of seven acres which, when added to the five acres purchased last year, will accommodate the Pointe OÕHareÕs office, structured parking, two low-rise restaurants/retail sites and hotel buildings. Finally, McShane Construction Corp. has been selected to provide the construction services for the complex. CB Richard Ellis is leasing agent for Pointe OÕHare; the Chicago office of RTKL is architect for the project.