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Downturn Creates Suburban Leasing Opportunities

CHICAGO- Transwestern will market and lease 1.2 million sf here. The Continental Towers and Olympian Office Center are both roughly 80% leased while 800, 810 Jorie Blvd. are only about 43% leased.

By Gina Kenny | Updated on May 07, 2008

CHICAGO-Transwestern’s Chicago office was recently hired to lease up three suburban office properties, including the three-building Continental Towers, in Rolling Meadows, IL, which is currently about 80% leased and will have more than 100,000 sf of contiguous space available, Fred Ishler, SVP with Transwestern, tells GlobeSt.com. Prime Group Realty Trust, based here, has hired Transwestern’s Chicago office to lease up three suburban office properties totaling 1.2 million sf.

Ishler, Joseph Stevens, Dan Svachula and Zachary Fox will lease the properties in conjunction with Julie Mertins, assistant VP of leasing with Prime Group Realty Trust. Prime Group Realty Trust had been doing its own leasing but decided to hire a third-party to lease up the large amount of vacant space. “There is a lot of opportunity just because of the general softness in the suburban market,” Ishler says. “They have a lot of space to lease here. We view the vacancy as opportunity.”

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