Hyundai Stays in the Suburbs

 

Hyundai now occupies the top floor of the Oakbrook Terrace complex.

CHICAGO— Hyundai Motor America recently moved its central regional office from Aurora, IL,  and into TransAm Plaza Two in Oakbrook Terrace, about 20 miles to the east, one of many h igh-profile suburban firms that have chosen to migrate within the suburbs. The multinational automotive company now occupies 18,044 square feet on the top floor of the five-story office building located at 2 Trans Am Plaza Dr. HMA executed the lease directly from the owner, American Landmark Properties , earlier this year in a deal valued at more than $4 million, according to officials from Cushman & Wakefield , which helped orchestrate the transaction. Debra Streff , senior group manager, administrative services, led HMA in the negotiations, collaborating with brokers Donald Yahn , Brett Swartzbaugh , Jordan Rovito , Jason West , Sean Henrick and Michael Magliano of C&W’s Irvine, CA and Chicago offices. JBS Commercial represented the landlord. HMA’s project architect was EWP Architects , and construction was provided by Executive Construction, Inc. “Outgrowing its former regional office space in Aurora, Hyundai used this move as an opportunity to take advantage of innovative workplace strategy and design trends, as well as relocate closer to central Chicago,” says Yahn, an executive director with C&W. HMA relocated a portion of its regional office operation from a subsidiary’s parts warehouse building at 1705 Sequoia Ave. in Aurora. The Fountain Valley, CA-based company recently sold the roughly 350,800 square foot industrial property in Aurora to Boston-based Cabot Partners in a separate sale-leaseback transaction valued at nearly $25 million. The sale-leaseback was also represented by C&W’s Yahn, Swartzbaugh, West and Magliano as well as James Carpenter and Michael Tenteris of the firm’s Irvine and Chicago offices. HMA’s service training center and parts distribution subsidiary, Mobis , will remain in the Aurora facility.