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Parkway North Lands 205,000-SF United Stationers HQ

DEERFIELD, IL-Now headquartered at 2200 E. Golf Rd. in Des Plaines, United Stationers Inc.'s 11-year deal with Washington, DC-based CarrAmerica Realty Corp. fills 82% of One Parkway North at Interstate 94 and Deerfield Road as well as being one of the largest suburban office leases in 2005.

By Mark Ruda | Updated on July 29, 2005

DEERFIELD, IL-United Stationers Inc. has signed an 11-year lease for 205,000 sf at CarrAmerica Realty Corp.’s One Parkway North, taking 82% of the building and leaving just 8% of the asset vacant. In addition, the seven-building, one-million-sf Parkway North office park is 95% leased thanks to the largest suburban office lease this year.

United Stationers moves its headquarters from 2200 E. Golf Rd. in Des Plaines, where it has 179,000 sf, to the office park at Interstate 94 and Deerfield Road. “At the present time, we operate from three separate buildings located in Des Plaines and Mount Prospect,” says United Stationers president and chief executive officer Richard W. Gochnauer. “Our company’s growth is outpacing the current space. The Deerfield facility gives us the flexibility to develop a scalable infrastructure to accommodate expansion.”

Although financial terms were not disclosed, the REIT was asking net lease rates starting at $12.50 per sf. at One Parkway North. However, CarrAmerica Realty is picking up $7 million of the approximately $16 million United Stationers will spend on furniture, fixtures, general purpose build-out and infrastructure technology at the 251,018-sf One Parkway North, according to the tenant. United Stationers becomes one of the REIT’s 25 largest tenants, at least in terms of square footage, now occupying 1.3% of its entire portfolio, as well as nearly 17% of its seven-building, 1.2-million-sf collection of suburban Chicago holdings. Michael Burns of the Staubach Co. represented United Stationers.

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