Edens Corporate Center Hits 90% Occupancy

CHICAGO—With a few exceptions, the suburban office submarkets have struggled for years to fill vacancies. The North Suburban market, for example, still has an 18.0% vacancy rate, down just 10 bps in the past year, according to a year-end report just published by Colliers. The class A vacancy rate stood even higher at 19.3%.

However, bright spots do appear from time to time. In the past few months, for example, NAI Hiffman has completed seven leases at Edens Corporate Center, totaling nearly 36,000-square-feet. This will add some positive absorption to the submarket, which saw only 55,656-square-feet of it throughout the past year. Furthermore, the new leases have pushed the 188,000-square-foot center to 90% occupancy, and left only three spaces ranging in size from 2,500- to 11,000-square-feet in the pair of four-story buildings at 630-650 Dundee Rd. in Northbrook.