Equity Office, a Chicago-based affiliate of The Blackstone Group with approximately 70 million square feet of assets in the United States, has selected Newmark Grubb Knight Frank (NGKF) as the exclusive leasing agent for Executive Towers West, a three-building, 693,867-square-foot Class A office complex in Downers Grove, Ill. John Clark, Rob Lundin and John Norris will lead the assignment.
Brian Driesse, director in Equity Office’s Asset Management group, said, “It is critical that the leasing agents for our properties understand the dynamics of the local market as well as our short- and long-term business objectives. NGKF demonstrated in-depth knowledge of the Chicago suburban office market, and offered valuable insight regarding how to best position these premier buildings in a competitive environment.”
One of the largest office assets in the East-West submarket, Executive Towers West is located at 1400, 1411 and 1431 Opus Place, near Butterfield Road and four-way highway access to I-88 and I-355. A 48,000-square-foot, full-floor space with prominent highway signage is available, as well as several speculative suite opportunities.
Existing and potential tenants will benefit from the significant capital improvements underway at the property, including a new tenant lounge and management office, corridor upgrades and lobby renovations. Other features of the complex include a fitness center, deli, manned security desks and covered parking.
“Demand for Class A space remains strong, and the East-West submarket currently has the second lowest Class A vacancy of all submarkets in the Chicago region,” said Mr. Clark. “Our client is ensuring these first-class assets continue to offer the comfort and modern amenities quality tenants demand, and at competitive rates.”
Contact Mr. Clark, Mr. Lundin or Mr. Norris at 773.957.1410 for more information.
About Newmark Grubb Knight Frank
Newmark Grubb Knight Frank (NGKF) is one of the world’s leading commercial real estate advisory firms. Together with its affiliates and London-based partner Knight Frank, NGKF employs more than 12,000 professionals, operating from more than 320 offices in established and emerging property markets on five continents.
With roots dating back to 1929, NGKF’s strong foundation makes it one of the most trusted names in commercial real estate. Its integrated services platform includes leasing advisory, global corporate services, investment sales and capital markets, consulting, program and project management, property and facilities management, and valuation services. A major force in the real estate marketplace, NGKF serves the local and global property requirements of tenants, landlords, investors and developers worldwide. For further information, visit www.ngkf.com.
NGKF is a part of BGC Partners, Inc. (NASDAQ: BGCP), a leading global brokerage company primarily servicing the wholesale financial and real estate markets. For further information, visit www.bgcpartners.com.