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Submarket Holds On to Two Tenants

OAK BROOK, IL-The East-West Corridor keeps Taylor Precision Products, which signs a 15,000-sf extension and expansion at 2311 W. 22nd St., while American Patriot Insurance Agency moves from here to Equity Office Properties' Westbrook Corporate Center in Westchester.

By Mark Ruda | Updated on January 18, 2005

OAK BROOK, IL-While one deal involves a move, the East-West Corridor office submarket continues to hold its own with two lease deals. While one tenant is moving out of this suburb to nearby Westchester, a larger tenant is expanding and extending its deal.

Taylor Precision Products will remain at 2311 W. 22nd St., signing an extension that triples its space here to 15,000 sf. While details were not disclosed, the company reduced its rental rate by 32% and is getting a build-out of showroom space from building owner Rreef.

“Rreef wanted to retain a good credit, long-standing tenant,” explains Steinco Corporate Real Estate Advisors vice president of finance Kevin J. McLennan, who represented Taylor Precision Products with David Stein and Tyler Roth. “All along it was clear that Rreef and Taylor were a good fit and at the end of the day, the dollars confirmed that.” Jon Clark and Rob Lundin of Trammell Crow Co. handled negotiations for Rreef Management.

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