CHICAGO—The suburbs may have lost Motorola and Capital One, but some areas are still proving attractive to users. The north suburbs, for example, have gained momentum for five consecutive quarters and class A properties there have fared especially well. NAI Hiffman helped illustrated this by completing three transactions at Bannockburn Corporate Center that have brought the 206,000 square foot office asset from 38% occupied since the firm took over leasing and management in August of 2014, to a 91% occupancy today.
Donlen Corp., a Hertz Co., signed a new lease for more than 70,000 square feet; another tenant, a healthcare company, signed a lease for over 47,000 square feet. And Parus Holdings, a communications technology company will relocate to 4,800 square feet within the building.
California-based Younan Properties Inc. bought the property back in 2006 when the market was hitting its zenith, but lost it to foreclosure when the economy collapsed.
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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.
