CHICAGO—Southwest suburban Bolingbrook has long been known as one of the metro region's top industrial centers, but Indevor Investments believes it's time to expand its supply of class A office space. The Chicago-based firm has just acquired an 80,000-square-foot three-story office building at 220 Remington Blvd., about one-quarter mile from the Rte. 53 and I-55 interchange, and plans to launch an overhaul that will bring the 1980s-era structure up to modern standards. “We see a real hole in this market,” Alan Zulanas , Indevor's founding principal, tells GlobeSt.com. Right now, any company currently occupying other types of commercial real estate in the area that also needs extra office space either has to renovate local flex space or go all the way up to Oak Brook, a top suburban office market. ATI Physical Therapy , for example, has its corporate headquarters at 800 Remington, another Indevor building about six blocks away, and needs additional space. It has already agreed to lease the entire 26,665-square-foot second floor at 220 Remington and relocate some of its back office and administrative functions there. It holds an option for the third floor. The surrounding area has about eight million square feet of retail, even more of industrial, but only about one million square feet of office space. And Zulanas points to the Tallgrass Corporate Center, a 50-acre, class A development in Bolingbrook owned by an affiliate of Equus Capital Partners, Ltd. , as an example of the level of demand that exists. As reported in GlobeSt.com, that development had been the headquarters for Tellabs , but it left in 2004. In about 36 months Equus was able to more or less fully lease Tallgrass and has kept its occupancy level up ever since. 220 Remington was considered a class A property when it was built, but today it is more properly classified as class B. However, Zulanas says by the time Indevor finishes this $14 million project, it will be the equal of the other modern, class A buildings in the suburbs. The company will renovate the building's mechanical systems and all interior and exterior spaces, replace the, exterior windows and perimeter wall insulation as well as interior and exterior lighting. Indevor will also add three new 270-ton HVAC RTU's and monument signage, and completely renovate the building's lobby, common areas, restroom facilities and landscaping. “Over the years, the building has been surpassed, but we are going to bring new life to it,” says Zulanas, “and have one of the best buildings in the market.” Indevor was represented by Sean Bossy of Mid-America Real Estate Group in the acquisition. The seller, a private investor, was represented by John O'Malley and Peter Kamberos of O'Malley Real Estate . The redevelopment team for 220 Remington includes Ernie Loberg Construction , general contractor; Proteus Group , architect of record; and Arrowhead Asset Management , asset manager. The exclusive marketing representatives for the building are John Milton and Ryan Moen of Bradford Allen . CHICAGO—Southwest suburban Bolingbrook has long been known as one of the metro region's top industrial centers, but Indevor Investments believes it's time to expand its supply of class A office space. The Chicago-based firm has just acquired an 80,000-square-foot three-story office building at 220 Remington Blvd., about one-quarter mile from the Rte. 53 and I-55 interchange, and plans to launch an overhaul that will bring the 1980s-era structure up to modern standards. “We see a real hole in this market,” Alan Zulanas , Indevor's founding principal, tells GlobeSt.com. Right now, any company currently occupying other types of commercial real estate in the area that also needs extra office space either has to renovate local flex space or go all the way up to Oak Brook, a top suburban office market. ATI Physical Therapy , for example, has its corporate headquarters at 800 Remington, another Indevor building about six blocks away, and needs additional space. It has already agreed to lease the entire 26,665-square-foot second floor at 220 Remington and relocate some of its back office and administrative functions there. It holds an option for the third floor. The surrounding area has about eight million square feet of retail, even more of industrial, but only about one million square feet of office space. And Zulanas points to the Tallgrass Corporate Center, a 50-acre, class A development in Bolingbrook owned by an affiliate of Equus Capital Partners, Ltd. , as an example of the level of demand that exists. As reported in GlobeSt.com, that development had been the headquarters for Tellabs , but it left in 2004. In about 36 months Equus was able to more or less fully lease Tallgrass and has kept its occupancy level up ever since. 220 Remington was considered a class A property when it was built, but today it is more properly classified as class B. However, Zulanas says by the time Indevor finishes this $14 million project, it will be the equal of the other modern, class A buildings in the suburbs. The company will renovate the building's mechanical systems and all interior and exterior spaces, replace the, exterior windows and perimeter wall insulation as well as interior and exterior lighting. Indevor will also add three new 270-ton HVAC RTU's and monument signage, and completely renovate the building's lobby, common areas, restroom facilities and landscaping. “Over the years, the building has been surpassed, but we are going to bring new life to it,” says Zulanas, “and have one of the best buildings in the market.” Indevor was represented by Sean Bossy of Mid-America Real Estate Group in the acquisition. The seller, a private investor, was represented by John O'Malley and Peter Kamberos of O'Malley Real Estate . The redevelopment team for 220 Remington includes Ernie Loberg Construction , general contractor; Proteus Group , architect of record; and Arrowhead Asset Management , asset manager. The exclusive marketing representatives for the building are John Milton and Ryan Moen of Bradford Allen .