RPAI Hires Colliers to Lease Zurich Towers

CHICAGO—Zurich Insurance Co. has been the primary occupant of the Zurich Towers since the suburban Schaumburg office property was built in 1986, but next year Zurich will vacant the two buildings in favor of its new build-to-suit headquarters on a portion of the nearby Motorola Solutions campus. The move will leave a big hole in the submarket, but Retail Properties of America, Inc. has just hired Colliers International, a company with experience in repositioning massive complexes, to market and lease the two-building, 895,400-square-foot office property. David W. Florent, Steven W. Kling and Francis R. Prock, all principals with Colliers’ Chicago-based office advisory group, will lead the effort.

“Colliers International has a solid track record of rebranding single tenant centers throughout Illinois and we are excited to be working with them on this incredible repositioning project,” said Gerald Wright, senior vice president and director of asset management for the Oak Brook, IL-based RPAI. “We believe that this property represents one of the best large block office locations in the Chicago suburban market and we are eager to unveil our vision for the space in collaboration with the Colliers team.”