Hugh Williams, with Cushman & Wakefield, represented Trane in the lease transaction. Julie Mertins, assistant VP of leasing for Prime Group, represented the building owner in the lease transaction. The facility was constructed on a build-to-suit basis for Trane, Mertins says.
The trust has had a number of new leases lately their Chicagoland locations. American Express Travel Related Services Co. Inc. and Environmental Resources Management Inc. have both renewed leases at the Continental Towers office complex, 1701 Golf Road, Rolling Meadows, IL. American Express has leased 23,726 sf in Tower Three since March 1990, Mertins says. Paul Buckingham and Peter Livaditis, both with CB Richard Ellis, represented American Express in the lease renewal while Mertins represented Prime Group. Environmental Resources Management Inc. has occupied 23,608 sf in Tower One of the complex since February 2006 when they had a sublease for the space, Mertins says. "The new lease will commence in September 2008," she says. The term of the lease is reportedly seven years. Steven Joseph and Noah Turner, both with CBIZ Gibralter Real Estate Services LLC, represented Environmental in the lease transaction while Mertins represented Prime Group.The complex has three office buildings with a total of 910,796 sf. The complex is currently about 80% leased, Mertins tells GlobeSt.com. The asking lease rate is between $14 and $16 per sf, net. Other major tenants in the building include Komatsu America Corp. and Fifth Third Bank, she says.
A "health care provider" also recently signed a lease for 22,030 sf at 2315 Enterprise Dr., which is part of the Enterprise Center II complex, Mertins tells GlobeSt.com. Mertins would not disclose the name of the tenant but said that it is a new location for the provider. The two single-story buildings that comprise the Enterprise Center II complex were constructed in 1986 and have a total of 62,580 sf. The complex is 100% leased, Mertins says. Tenants in the complex include ThyssenKrupp Elevator and ProSource Financial.
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