NAPERVILLE, IL-TriZetto Group Inc. has signed an 11-year lease for 40,748 square feet in Naperville Corporate Center II. The Greenwood Village, CO-based healthcare IT company will relocate its local operations to the five-story, class A building at 1240 Diehl Rd. in March 2011.
With the TriZetto lease, Naperville Corporate Center II is 100% leased, according to Fred Ishler, a senior vice president with Transwestern’s Chicago office. He, Joe Stevens and Zach Fox serve as exclusive leasing agents for the property, which is owned by a joint venture comprised of Transwestern Investment Co. and TriGate Capital LLC of Dallas.
Naperville Corporate Center II is one of four buildings in the Naperville Corporate Center. The entire property is 80% occupied. “Including this deal, we have done about 90,000 square feet of leases at Naperville Corporate Center over the past 10 months,” Ishler tells GlobeSt.com, adding that the property has outperformed the submarket, which is about 22% vacant.
Ishler says Naperville Corporate Center courted TriZetto for about six months before the firm decided to move to the 1980s-era project. “This is a sizeable deal for the Lisle/Naperville market, and there was stiff competition to get it,” he notes, estimating that TriZetto considered as many as 20 building. “There is a lot of available space in the market today because the market has been pretty soft.”
Currently, TriZetto occupies roughly the same amount of space at 500 Technology Dr., a class B building about three miles from its new home. Ishler says the company’s lease was coming up for renewal. “They wanted to take advantage of market conditions and to move to a higher quality building,” he explains.
Naperville Corporate Center received a $2.7 million renovation program in 2008 that updated its lobbies and common areas. Building amenities include a delicatessen, on-site management, conference room and jogging path, and nearby amenities include Freedom Commons, an upscale lifestyle center that features Morton’s the Steakhouse, White Chocolate Grill, Maggiano’s Little Italy and L.A Fitness.
TriZetto will occupy the entire second floor and part of the third floor at Naperville Corporate Center II. Denver-based Davis Partnership Architects is handling the workplace design for the new space, which will house about 170 employees.
As part of its lease, TriZetto also has top-of-the-building signage.
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