Alter, headquartered in Skokie, is the developer the 115-acre business park. The estimated cost for the business park, when completed, is between $400 million and $500 million, Ward tells GlobeSt.com.

Verizon has leased space in Corridors Two for a regional office since 1999. The space was originally leased by WorldCom, which was acquired by MCI and was subsequently acquired by Verizon, he says. Ward and Bryan Farquhar, also with Alter, represented the firm in the lease transaction. David Justh and Kevin Rogers, both with CB Richard Ellis, represented Verizon. The building, as well as the other buildings in the park, has fully redundant fiber optics and back-up power. The buildings also have large efficient floor plates, Ward says. The building at 2655 Warrenville Rd. is 90% leased and has been at least 90% leased since it was constructed in 1999, he says.

The park, in the East-West Corridor at the intersection of Interstate 88 and Interstate 355, has a total of 517,000 sf in three buildings. Alter sold the buildings in the past few years, but stayed on as the property manager. Atlanta-based Wells REIT bought Corridors Three, 2650 Warrenville Rd., for $40.5 million in 2004. Corridors One, 2651 Warrenville Rd., and Corridors Two, 2655 Warrenville Rd., were sold to Heitman Capital Management for approximately $52.2 million in 2005, sources say. Tenants in the park include AIU Online, GreenPoint Mortgage and BNC. The asking lease rate for the park is $16 per sf net. The asking lease rate for the surrounding area is between $14 per sf net and $15 per sf net, he says.