Culligan is expected to move into the new space in May, after the space is built out, says Steve Schnur, senior vice president of Duke's Chicago Office Group. Additionally, a water filtration display will be constructed in the lower level. The 13,000-sf area, with 20-foot-high ceilings, will house the display for clients to view products. .
The business is moving from its current headquarters in Northbrook. Culligan has sold the 42-acre piece of property to GlenStar, Schnur says. The Northbrook location housed the North American headquarters and formally was used for manufacturing. "It was an outdated facility that they were still operating their offices out of," he says.
Schnur says he cannot release the length of the long-term lease. The average rent for the Riverway office complex is $17 per sf net "and that is consistent with their lease," he says. Duke is offering prominent building signage and the area for Culligan to construct the display. "They like the ability to put in a display area in the building," Schnur says. "It is a unique area that we have that other buildings do not have."
The Riverway West building is part of the three-building Riverway office complex, which is 99% occupied, Schnur says. When Duke purchased the property in 2005, the complex was about 78% leased. The corporation aggressively marketed the buildings and completed small improvements such as cleaning the windows and fixing the fountains in the courtyard, Schnur says. "They are not big things, but they are little things that a class A property should have," he says.
Todd Lippman, James Whalen and Hank Cox, all of CB Richard Ellis, represented Culligan in the lease transaction. Duke vice president Ryan O'Leary represented Duke in the transaction.
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