Net Lease Office Opportunity in I-55 Hits Market

790 Remington was vacant in 2007, but has been completely renovated and occupied since then.

CHICAGO—The I-55 submarket may be best known as an industrial dynamo, but it also has an office component of about one million square feet with a set of dedicated tenants. And net lease investors now have the opportunity to pick up a renovated asset with a tenant that has decided to make a long-term home in the area. Chicago-based Indevor Investments has decided to sell a 134,697-square-foot corporate office facility located at 790 Remington Blvd. in Bolingbrook, and awarded the disposition assignment to Avison Young . ATI Physical Therapy , a fast-growing healthcare and physical therapy provider, occupies the entire two-story building. “It’s a unique asset in that holds a dynamic, growing company that recently took the remaining space in the building, and has signed a long-term lease,” Avison Young principal Erik Foster tells GlobeSt.com. “These types of assets are extremely rare in the Chicago suburban market.” Foster and James Hanson , both members of the firm’s national capital markets group, will oversee the assignment. ATI Physical Therapy operates more than 525 clinics in 19 states. Following years of steady growth, it was recently acquired by Advent International , one of the world’s leading private equity firms. Indevor acquired 790 Remington in 2007, and began a comprehensive renovation, increasing the then-vacant structure’s size by about 25,000 square feet. ATI Physical Therapy took occupancy that year and later invested its own capital to further customize the building. As reported in GlobeSt.com, the company also plans to expand into an additional 26,665 square feet at 220 Remington, another Indevor building about six blocks away.