Piedmont Office Realty Trust Inc. has completed a new 12-year lease with Catamaran Corp. for the entire 300,686 square foot Windy Point II property, located at 1600 McConnor Parkway in Schaumburg. The pharmacy benefits management company will relocate its corporate headquarters from Lisle and consolidate its nearby Bannockburn operation into Piedmont’s 11-story property in the spring of 2013.
The tenant was represented by Andrea Van Gelder and Diana Riekse of Jones Lang LaSalle. The owner was represented by the Jones Lang LaSalle team of Rick Benoy, Norm Murdoch and Doug Shehan, and by Piedmont’s asset manager Damian Miller.
“We are pleased to welcome Catamaran to our tenant portfolio and are confident that its employees will find our building very suitable to support their recent growth resulting from their merger with Catalyst Health Solutions,” said Piedmont Executive Vice President of Real Estate Operations, C.A. “Bo” Reddic, IV. “The central geographical location, easy interstate access, nearby shopping and on-site amenities will provide additional benefits to Catamaran employees and guests.”
“The completion of this transaction solidly demonstrates the basic premise of our business model – completing long-term leases with high-quality tenants in our strategic markets,” said Piedmont President and Chief Executive Officer Donald A. Miller. “We are glad to be able to accommodate the office needs of Catamaran, a multi-billion corporation with over 1,000 employees in the Chicago market. The completion of Catamaran’s merger earlier this year and the recent availability of space at Windy Point II made this transaction truly a win-win for both parties.”
