CBRE facilitated a lease renewal and expansion at Woodfield Preserve Office Center, on behalf of Zeller Realty Group (ZRG), to Byline Bank at 20 N. Martingale Road in Schaumburg. Byline Bank, a full-service commercial bank, will extend its lease at Woodfield Preserve and expand from 25,998 square feet to 34,200 square feet to accommodate future growth.
Bill Elwood and Rob Graham of CBRE represented the owner, ZRG, in the transaction. David Ven Horst of Tenant Advisors represented Byline Bank. “The activity at the Woodfield Preserve has been incredible the past few months, further cementing this property as one of the premier Class A developments in the northwest suburbs,” said Elwood. “We are receiving a lot of interest and we expect this momentum to continue into 2019.”
ZRG has significantly transformed the property, upgrading finishes as well as improving and adding numerous amenities to both buildings at Woodfield Preserve. Amenities include two fitness centers, game rooms, conference centers, Wi-Fi lounges, full-service delis with catering services, an outdoor courtyard with pergolas and fire pits, mother’s rooms and community yoga classes and organic gardening classes. ZRG also provides property management services for the building.
“The nature of the average workday is changing; we deeply believe in enhancing the workplace experience where employees have flexibility and access to an amenity-rich setting,” said Laura Stangle, vice president of asset management, ZRG. “We are thrilled to serve the needs of Byline Bank, and look forward to accommodating their successful growth.”
Woodfield Preserve has experienced robust leasing activity in the past four months, totaling 121,696 square feet. Notable new leases include 9,300 square feet to CultureIQ and a 3,200-square-foot lease to Paper Tiger, a document solutions firm. Last month, Assurance Agency signed a 75,000-sqaure-foot lease and will relocate its headquarters to the office campus in 2019.
“Byline Bank has been a tenant at Woodfield Preserve for over 10 years, and has always been pleased with the support, service and amenities we’ve received, providing our employees with a great place to do great work,” said Bruce Lammers, executive vice president, president, Byline Small Business Capital. “We have gone through multiple expansions during this time, and the staff at Woodfield Preserve has always worked with us to accommodate our needs and supported our growth.”
