CBRE Arranges 11,195 SF Office Lease at Oak Brook 22
The growing software company, which supplies integrated solutions for construction materials producers worldwide, will be consolidating two separate offices located in nearby Rosemont and Woodridge, to one centralized location. The company will relocate to the 3rd floor offices of Oak Brook 22 in June, 2016.
For the Week of June 12, 2016
Mayor Cunningham and Village staff embarked upon the first ever Woodridge Business Walk on Tuesday, May 24. The Woodridge Plaza shopping center was chosen as the first location for this economic development effort that seeks to connect with local businesses and support their long term needs. The Mayor and staff met with 20 retailers and service providers located within Woodridge Plaza shopping center located at 75th Street and Janes Avenue in Woodridge.
The walk is one of several efforts that will be undertaken this year to assist with local commerce. The Shop Woodridge Task Force began meeting last fall to discuss local business issues and ways that the Village can further support and promote local businesses. An action plan created through this effort is expected to be presented to the Village Board later this summer. Building upon the Village’s current Business Retention Program, this initiative seeks to address the Village of Woodridge’s strategic goal to support local businesses. Mayor Gina Cunningham stated that the “growth and success of local businesses is key to a healthy local economy and the Village continues to work to gain a better understanding of issues facing them.” Individuals interested in learning more about the Village’s Economic Development efforts should visit the economic development page or contact Village Planner, Jason Zawila at (630) 719-2906.
A Boston real estate investor sold a pair of Oak Brook office buildings for $24 million, not much more than it paid for them more than 11 years ago.
Zurn Industries is relocating its operation in Elkhart, IN and consolidating with its existing operations in the Chicago area to DuPage County.
Zurn Industries, a recognized leader in commercial, municipal, healthcare and industrial markets, offers the largest breadth of engineered water solutions in the industry, delivering total building solutions for new construction and retrofit applications that enhance any building’s environment.
Recently, the company signed a 134,514 SF lease at 340 County Line Road in Bensenville, IL. A subsidiary of Milwaukee-based Rexnord Corporation, Zurn Industries is relocating its operation in Elkhart, IN and consolidating with its existing operations in the Chicago area. The company will bring the new, Class A 184,170 square foot distribution facility to 100% occupancy with Geib Enterprises leasing the remaining space. “Our center in Elkhart has allowed us to deliver exceptional service to our customers for many years,” said Ken Witter, Director of Real Estate at Rexnord Corporation. “Our new facility in Chicago’s O’Hare marketplace will allow us to further optimize our operating strategies, and maximize our exposure in the Chicagoland area.” Newly constructed in November 2015, 340 County Line Road is a premier 5-star warehouse located in DuPage County. The building is situated on 11.5 acres and boasts 32’ clear heights, 38 trailer and 162 car spaces and is minutes from O’Hare International Airport. Zurn’s relocation illustrates the enduring attraction for state-of-the-art facilities in what is considered to be one of the most demanded industrial submarkets in the Chicago region. “Zurn investigated several different submarkets throughout the Chicago metropolitan area for its relocation, and it was determined that the 340 County Line Road facility was ideal based on building amenities, transportation needs and access to a quality labor market,” said Cushman & Wakefield Vice President William Strey, CCIM, who represented Zurn in the transaction. According to Cushman & Wakefield Research, there is currently 12.5 million square feet of industrial construction in the pipeline in response to the increasing demand for Class A, state-of-the-art space like 340 County Line Road.