The Davis Companies has announced the restabilization of its second suburban office property in the Chicago-area market. Paired with NAI Hiffman’s local management and leasing expertise, The Davis Companies has invested more than $2 million in capital improvements to renovate and upgrade the two-building property since acquiring it in 2012.
The makeover of common areas and amenities has quickly repositioned Edens Corporate Center to become the latest top-level property conversion in Northbrook.
“We worked closely with our tenant-customers to give them what they’re looking for so they will be successful in attracting and retaining the best and brightest employees. The results speak for themselves,” said Duncan A.C. Gilkey, senior vice president with The Davis Companies.
In the past 90 days, NAI Hiffman’s leasing team completed seven leases at Edens Corporate Center, totaling nearly 36,000 square feet of office space, adding to the positive absorption in the North Suburban submarket. The leasing activity has pushed Edens Corporate Center to 90 percent occupancy, limiting available space to only three suites ranging in size from 2,500 to 11,000 square feet.
New tenants to the property include IOR Global Services, Retail Solutions Inc., and GovTemps USA; these new lease transactions total a combined 11,289 square feet of office space. Additionally, Edens Corporate Center successfully renewed four existing tenants: Mitchell Planning Associates, Iron Financial, Lidemara Enterprises, and O’Halloran Kosoff Geitner & Cook LLC for a total of 24,429 square feet.
“During the search for our new headquarters we wanted a high-quality building with an urban flair and on-site amenities, as well as a bright and collaborative space. Our goal was to select a building which would appeal to both our current and prospective new professionals,” said Rob Burns, CEO of IOR Global.
Edens Corporate Center, located at 630-650 Dundee Road in Northbrook, is a property that features twin, four-story buildings totaling 188,000 square feet. Upon acquiring the property, The Davis Companies has completed more than 15 renovation and rehabilitation projects including new conference facilities, an updated tenant lounge and café operated by Once Upon a Bagel, new monument signage, renovated restrooms, and state-of-the-art interactive electronic lobby directories. All projects were completed while the management team established its on-site presence at the property. Edens Corporate Center offers Class A offices with a park-like environment for businesses searching for a unique place to collaborate and thrive.
Michael Flynn, Linda Garske and Jason Wurtz, with NAI Hiffman’s office services team, represented The Davis Companies in all seven transactions. John Burns of Keystone Realty Capital represented IOR Global Services; David EtsHokin of Tenant Advisors represented Retail Solutions; Victor Sanmiguel with Bespoke represented Mitchell Planning Associates; Kevin Clifton of CBRE represented Iron Financial; Gail Sturm of ProTen Realty Group represented O’Halloran Kosoff Geitner & Cook.