CHICAGO—US Cellular Corp. has just renewed and expanded its lease at US Cellular Plaza, 8410-8420 W. Bryn Mawr Ave. in the O'Hare submarket, increasing its headquarters from 212,438 square feet to 331,797 square feet. This is the largest lease signed in the suburban Chicago market since 2014.
As part of the deal, the owner of the complex, Charlotte, NC-based FCA Partners, LLC, will implement extensive exterior and interior renovations including landscaping, parking upgrades, improved common areas and lobby renovations, among other improvements
“Given the tightness of the O'Hare market, significant tenant improvement packages aren't as common as they once were,” Jason M. Simon, principal, Colliers International's Chicago-based office advisory group, tells GlobeSt.com. “At the same time, FCA wanted to ensure that US Cellular remained a tenant and agreed to the comprehensive improvements.”
Simon and his fellow principal, Francis R. Prock, represented FCA Partners in the transaction. US Cellular was represented by Bob Chodos and Steve Levitas of Newmark Grubb Knight Frank and Michael Adams of Colliers.
“US Cellular has been a vital component of this office complex and the O'Hare office market for almost three decades,” says Edward M. Cherry, managing director at FCA Partners. “We are proud of our collaboration with US Cellular that has made US Cellular Plaza such a solid office asset and a prime example of the type of investment we seek.
Constructed in 1981, US Cellular Plaza is a three-building, 637,484-square-foot class A office complex located at I-90 and Cumberland Ave.
US Cellular signed its original lease at 8410 Bryn Mawr in 1988 for just under 10,000 square feet. Prior to this most recent lease signing, the company was occupying the entire 8410 building and will now expand into the 8420 building on a long-term basis.
According to Colliers' first quarter report, the O'Hare market, where the property resides, currently boasts a 13.7% vacancy rate for class A properties. The O'Hare market currently has the lowest overall vacancy rate of all five suburban markets.
CHICAGO—US Cellular Corp. has just renewed and expanded its lease at US Cellular Plaza, 8410-8420 W. Bryn Mawr Ave. in the O'Hare submarket, increasing its headquarters from 212,438 square feet to 331,797 square feet. This is the largest lease signed in the suburban Chicago market since 2014.
As part of the deal, the owner of the complex, Charlotte, NC-based FCA Partners, LLC, will implement extensive exterior and interior renovations including landscaping, parking upgrades, improved common areas and lobby renovations, among other improvements
“Given the tightness of the O'Hare market, significant tenant improvement packages aren't as common as they once were,” Jason M. Simon, principal, Colliers International's Chicago-based office advisory group, tells GlobeSt.com. “At the same time, FCA wanted to ensure that US Cellular remained a tenant and agreed to the comprehensive improvements.”
Simon and his fellow principal, Francis R. Prock, represented FCA Partners in the transaction. US Cellular was represented by Bob Chodos and Steve Levitas of Newmark Grubb Knight Frank and Michael Adams of Colliers.
“US Cellular has been a vital component of this office complex and the O'Hare office market for almost three decades,” says Edward M. Cherry, managing director at FCA Partners. “We are proud of our collaboration with US Cellular that has made US Cellular Plaza such a solid office asset and a prime example of the type of investment we seek.
Constructed in 1981, US Cellular Plaza is a three-building, 637,484-square-foot class A office complex located at I-90 and Cumberland Ave.
US Cellular signed its original lease at 8410 Bryn Mawr in 1988 for just under 10,000 square feet. Prior to this most recent lease signing, the company was occupying the entire 8410 building and will now expand into the 8420 building on a long-term basis.
According to Colliers' first quarter report, the O'Hare market, where the property resides, currently boasts a 13.7% vacancy rate for class A properties. The O'Hare market currently has the lowest overall vacancy rate of all five suburban markets.
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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.
