Franklin Partners and Wright Heerema Architects will redevelop the former OfficeMax headquarters at 263 Shuman Boulevard in Naperville, Illinois. Franklin Partners, in a joint venture with Bixby Bridge Capital, acquired the property last week.
“There’s an unmet need to deliver an amenity-rich workplace experience in the heart of Chicago’s western suburbs,” said Ray Warner, partner, Franklin Partners. “We are redeveloping this high-quality, Class A office building that’s been under-utilized for many years to deliver a unique, Millennial workforce-friendly destination.”
The 350,000-square-foot office building will be reinvented as a socially-activated, multi-tenant building after a long life as a corporate headquarters location, dating back to its initial development in 1987 for AT&T. The main entrance and atrium will be redesigned with a grand staircase and stadium seating leading down to a bright, airy lower level featuring a cafe, market-style deli, full fitness center, coworking lounges and other amenities more typical of a Chicago high-rise than the surrounding suburban offices. The redevelopment plans are in progress, with construction scheduled to begin later this year and completion set for early 2019. No tenants currently occupy the building, which is centrally located off Interstate 88 with prominent visibility.
“Contrary to popular belief, there are plenty of suburban Millennials—and they are beginning to demand the same types of workplace amenities as their more urban counterparts,” Roger Heerema, principal, Wright Heerema Architects, said. “From the baristas and wellness amenities to a foodie-friendly marketplace, we’re bringing Fulton Market to Naperville.”
The Colliers International team of Francis Prock and David Florent, both principals in the firm’s office advisory group, will serve as exclusive leasing agents for the renovated offices.