Flynn and Brian Edgerton, VP, represented Midas. Patrick McKillen, with Hamilton Partners, represented the Chicago-based developer. The automotive retailer had sublet the entire 108,332-sf building since 1999 from Cendant Corp., which is now Avis Budget Group Inc. The sublease would have expired at the end of this year, Flynn says.

The two-story building was constructed by Hamilton Partners as a build-to-suit project for Cendant, Flynn says. Midas had a reduction in the amount of space the company needed because it is no longer manufacturing and distributing parts, he says. The company had used some of the building's space to oversee the ordering of raw materials, payment to suppliers and otherwise managing the supply chain, Flynn says.

The 62,599 sf will continue to house Midas' North American headquarters and the company will also move its training operations to the facility. Midas had been leasing about 4,000 sf to 6,000 sf in Palatine, IL for its training operations, Flynn tells GlobeSt.com. The asking lease rate for the available space at 1300 N. Arlington Heights Rd. is $21.79 per sf, gross. The market rental rates when Midas signed the sublease was approximately $25 per sf. The company Midas received a tenant improvement allowance of $1 million, Flynn tells GlobeSt.com.