March 5, 2020
NKF completed a 47,716-square-foot lease on behalf of MISUMI USA at 1475 E. Woodfield (Schaumburg Corporate Center) in Schaumburg, IL. The new lease represents an expansion as well as a relocation from 1717 Penny Ln.in Schaumburg, where MISUMI leased 32,000 square feet.
Paul Buckingham, Brian Reaney and Matt Frazee of NKF represented MISUMI USA in the transaction. Glenstar’s Dave Trumpy and Bill Saviski advised building ownership in the transaction.
“More and more tenants in the suburban markets are finding value in buildings’ existing conditions, or value engineering tenant improvement packages to further offset relocation and other capital costs,” said Buckingham. “As construction costs increase, we see this trend continuing.”
Located adjacent to Woodfield Mall, Schaumburg Corporate Center is a one-million-square-foot, three-building, Class A office complex. Glenstar, which acquired the asset in 2017, has since completed a $30 million redevelopment.
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