CHICAGO—The Missner Group has just completed phase one of the capital improvement project at Continental Towers in suburban Rolling Meadows, another step in the new owner's attempt to reposition and revive the 911,341-square-foot complex. Glenstar Properties, LLC bought the three 12-story buildings in 2013, shortly after occupancy had sunk to less than 50%.

Glenstar committed $8 million to upgrade and reposition the buildings, located at 1701 Golf Rd., and Skokie, IL-based Missner will soon begin phase two. The first phase included interior renovations to the complex's common areas. Renovations to each of the three lobbies included the addition of decorative drop ceilings and extensive millwork.

The new owner has made progress. As reported in GlobeSt.com, Komatsu America Corp., the US subsidiary of Komatsu Ltd., the world's second largest manufacturer and supplier of earth-moving equipment, recently renewed its 105,437-square-foot lease. And last year, the occupancy rate reached 62% after Glenstar completed seven new leases. In the largest of the those leases, Ceannate Corp., a student loan collector, expanded by almost 50%, taking an additional 23,682-square-feet, bringing its total to 74,340-square-feet.