Millennium Trust Company, a provider of administrative and custodial services for advisors, individual investors and financial institutions, has agreed to a a 72,000-square-foot lease at Commerce Plaza in Oak Brook. The firm will move to its new space in 2012.
Karla Harmon, vice president with Jones Lang LaSalle, completed the transaction on behalf of the building’s owner, Arden Realty Inc. Commerce Plaza is one of five suburban office developments totaling approximately 3 million square feet that are leased by Jones Lang LaSalle for Arden, a subsidiary of General Electric Company.
Millennium Trust is centralizing its operations from about 50,000 square feet that it currently leases in two other Oak Brook-area buildings. They were represented by David Justh and Gary Fazzio of CB Richard Ellis.
With Millennium’s move to Commerce Plaza, the three-building 555,500-square-foot complex is now more than 85 percent leased. By comparison, the overall occupancy rate in the 21-million-square-foot Eastern East-West submarket is approximately 81.4 percent, according to the latest Jones Lang LaSalle research.