Bank of America renews its lease for 92,825 SF of space in Younan Properties' 1600 Corporate Center in Rolling Meadows. This deal represents the largest renewal for office space in the Northwest Submarket in 2011.
CHICAGO, April 11, 2011 ‐‐‐Younan Properties, Inc., a fully‐integrated, national real estate owner and manager of office buildings in five major U.S. office markets announced that Bank of America has renewed 92,825 square feet of tenant space at 1600 Corporate Center in the Northwest submarket of Chicago.
Bank of America has been a tenant of 1600 Corporate Center since its acquisition of Countrywide Home Loans in 2008. David Olsen, Mark Kolar and Greg Raus of Jones Lang LaSalle (JLL) represented the tenant. Joe Stevens, Fred Ishler and Zach Fox of Transwestern handled the transaction for Younan Properties.
"The abundant parking, great infrastructure, and central location combined with Younan's creativity in its deal structure make this building a great fit for this or any tenant," say Joe Stevens of Transwestern.
"This is an important renewal for Younan Properties and for 1600 Corporate Center," said Dan Svachula, leasing manager of Younan's Chicago portfolio. "Bank of America's long term commitment to the building is proof of the property's overall appeal and tenant amenities. There have been significant improvements in the market fundamentals, which is having a positive impact on leasing velocity. We currently are working on more deals that we will be announcing in the upcoming weeks."
1600 Corporate Center is a 255,440 square foot 12‐story, Class A office building located in Rolling Meadows, within Chicago's Northwest Suburban submarket. It is situated on a landscaped campus with unencumbered views of the Ned Brown Forest Preserve.
About Younan Properties
Younan Properties is a fully integrated, self‐administered and self‐managed owner and operator of primarily Class "A" office properties located in five major U.S. office markets, including Dallas, Chicago, Houston, Phoenix and Los Angeles. The portfolio consists of 33 office properties with nearly 11.0 million square feet of rentable space. Younan is a fullservice real estate company with in‐house expertise and resources in leasing, asset and property management, marketing, acquisitions, redevelopment, facility engineering and financing.
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