CHICAGO—Equity Office, a Chicago-based affiliate of The Blackstone Group, has selected Newmark Grubb Knight Frank as their exclusive leasing agent for Executive Towers West, a three-building, 693,867-square-foot class A office complex in suburban Downers Grove. John Clark, Rob Lundin and John Norris will lead the NGKF team.
“It is critical that the leasing agents for our properties understand the dynamics of the local market as well as our short- and long-term business objectives,” says Brian Driesse, a director in Equity Office's Asset Management group. “NGKF demonstrated in-depth knowledge of the Chicago suburban office market, and offered valuable insight regarding how to best position these premier buildings in a competitive environment.”
Located at 1400, 1411 and 1431 Opus Pl., near Butterfield Rd., I-88 and I-355, Executive Towers West is one of the largest office assets in the East-West submarket. A 48,000-square-foot, full-floor space with prominent highway signage remains available, as well as several speculative suites.
Equity Office, which has about 70-million-square-feet of assets in the US, has begun significant capital improvements at the property, including a new tenant lounge and management office, corridor upgrades and lobby renovations. Other features of the complex include a fitness center, deli, manned security desks and covered parking.
“Demand for Class A space remains strong, and the East-West submarket currently has the second lowest class A vacancy of all submarkets in the Chicago region,” says Clark. “Our client is ensuring these first-class assets continue to offer the comfort and modern amenities quality tenants demand, and at competitive rates.”
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
