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 as the exclusive leasing agent for Executive Towers West. The three-building, 693,867-square-foot Class A office complex is located in Downers Grove. John Clark, Rob Lundin and John Norris will lead the assignment.
“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,” said Brian Driesse, director in Equity Office’s asset management group. “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.
Capital improvements are 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,” Clark said. “Our client is ensuring these first-class assets continue to offer the comfort and modern amenities quality tenants demand, and at competitive rates.”
