Daniel B. O'Neill and James Adler, EVPs with NAI Hiffman's Office Brokerage Group, represented both the owner, TA Associates Realty, and American Access in the long-term lease expansion. They were not available for comment.
The asking lease rate in the 91,844-sf building is $11 per sf. The occupancy rate in the building is about 85%. The office building, which dates back to the early 1980s, is in the Interstate 88 East submarket. This market has an average occupancy rate around 81%, with asking lease rates ranging from around $21 to $26 per sf, according to a Grubb & Ellis second quarter market report.
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