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CHICAGO, APRIL 19, 2010– Jones Lang LaSalle announced today that its North Suburban team completed two tenant representation transactions totalling 39,200 square feet of space in Chicago’s North Suburban Market.
Jones Lang LaSalle’s Robin Stolberg and Kurt Sarbaugh teamed with Tim Hart to complete the two assignments. The team represented Creative Group, Inc., in a 19,700 square foot lease at 1543 Barclay Boulevard. Norman Ross represented the landlord, Arthur J. Rogers, in-house. The team also completed a 19,500 square foot lease at 750 Bunker court in Vernon Hills on behalf of Weston Solutions, Inc. The landlord was self-represented in the transaction.
“Commercial real estate follows the general economy so while we are seeing signs of improvement, there are still opportunities out there for tenants,” said Sarbaugh. “Landlords are willing to work with tenants to make mutually beneficial deals.”
At the end of the first quarter, the North I-94 Corridor available inventory experienced a considerable increase to 18.6 million square feet, up from the first quarter 2009 total of 15.2 million square feet. The increase was a direct result of some larger facilities returning to the marketplace. One such building is one of the largest available manufacturing facilities located in Lake County. The 272,422-square-foot manufacturing headquarters is located at 2200 Tempel Drive in Libertyville and is available for sale or lease. Leasing activity was down 160,000 square feet for the first quarter 2010 compared to first quarter 2009. Sales transactions were also down in Lake County. The first quarter 2010 totaled three transactions compared to six in the first quarter of 2009.
About Jones Lang LaSalleJones Lang LaSalle (NYSE:JLL) is a financial and professional services firm specializing in real estate. The firm offers integrated services delivered by expert teams worldwide to clients seeking increased value by owning, occupying or investing in real estate. With 2009 global revenue of $2.5 billion, Jones Lang LaSalle serves clients in 60 countries from 750 locations worldwide, including 180 corporate offices. The firm is an industry leader in property and corporate facility management services, with a portfolio of approximately 1.4 billion square feet worldwide. LaSalle Investment Management, the company’s investment management business, is one of the world’s largest and most diverse in real estate with more than $40 billion of assets under management. For further information, please visit our Web site, www.joneslanglasalle.com.
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