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Duke Building $30M BTS for Liberty Insurance

WARRENVILLE, IL-The four-story, 148,000-sf office building is being constructed at Cantera in Warrenville.

By Gina Kenny | Updated on June 12, 2007

WARRENVILLE, IL-Duke Realty Corp. is constructing a build-to-suit, 148,000-sf office building for Boston-based Liberty Mutual Insurance Co. The four-story building will be constructed on 9.5 acres at 27101 Bella Vista Pkwy., near Interstate 88 and Mill Street at Cantera in Warrenville. Liberty Mutual is buying the building for approximately $30 million, says Steve Schnur, senior vice president with Duke.

Mark Stables, with Grubb & Ellis, represented Liberty Mutual in the build-to-suit sales transaction. Scott Marshall, senior leasing representative with Duke’s Chicago office, represented Duke in the transaction.

The office building will allow Liberty Mutual to consolidate from four separate locations in the area and will house approximately 700 Liberty Mutual employees. “They feel it is more efficient to get everybody under one roof,” Schnur says. Liberty Mutual has been leasing about 50,000 sf from Duke in Downers Grove, IL for at least the past 10 years. The 148,000 sf will be slightly more than what Liberty Mutual is leasing now, but Schnur says he does not have exact figures.

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