Jason Volpe and Rick Schuham, both with Studley, represented Abercrombie & Kent in the lease transaction. Josh Robbins, a Duke senior leasing representative, represented his firm.
The tenant, which was established in 1962, is relocating from approximately 30,000 sf at 1520 Kensington Rd., Oak Brook, IL. The company will move into Executive Towers West in August and will use the space as its North American headquarters, a call center and executive offices for the new Abercrombie & Kent Residence Club. The destination club is expected to have 43 properties in 30 locations by the end of the year, according to a statement on the new program.
The company is moving into space that had been vacated by Fremont Investment and Loan, says Steve Schnur, SVP of Duke's Chicago operations. The new tenant was able to take advantage of the existing build-out, he says. The travel company will also have signage on the building that is visible from Interstate 88, Schnur says.
The three-building Executive Towers West has a total of 650,000 sf at 1400, 1411 and 1431 Opus Pl. Redbox Automated Retail LLC, based in Oakbrook Terrace, IL, has also signed a six-year lease for 24,000 sf at Executive Towers I, 1431 Opus Pl., Schnur says. Diana Riekse and Andrea VanGelder, both with the Staubach Co., represented Redbox in the lease transaction while Robbins represented Duke. The complex is 95% leased, Schnur says. Major tenants in the complex include Ambitech Engineering, State Farm and Burns & McDonnell Engineering. The asking lease rate is $16 per sf net, he says.
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