"This is our third speculative building in three years, and we've leased both of the other ones prior to their completion," says Donald Schoenheider, VP and city manager with Liberty. "The access to Interstate 88 is very good, and we're right on a four-way interchange. Tenants have access to a well-priced labor base."
Liberty owns five of the eight existing buildings in the development, having built four and bought one. The existing buildings range in size from around 200,000 sf to 700,000 sf. Asking lease rates in the complex are around $3.95 per foot, net, Schoenheider says.
The business center is located in the far west Fox Valley submarket, according to Schoenheider. "The market has been rather stable," he tells GlobeSt.com. "Our vacancy levels are lower than the submarket vacancy rate, which is below 10%. Activity has maintained a level pitch and it's been relatively busy throughout the summer."
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