Occupancy soars from 5% in 2019 to 70% following extensive renovations and leasing activity
NAI Hiffman, the Midwest’s leading independent commercial real estate firm, today announced it completed three office leases totaling 15,642 square feet at 2200 Cabot Drive, a Class A office redevelopment in the Corporate Lakes office park in Lisle, Ill.
Agriculture company Syngenta signed a 13,381-square-foot lease at the five-story building. Prior to the pandemic, Syngenta occupied space in nearby Downers Grove.
“We’re seeing a lot of companies that went fully remote during the pandemic starting to return to the office in some format as they seek to balance efficiency and productivity,” said Patrick Kiefer, executive vice president with NAI Hiffman’s Office Services Group. “Tenants are focusing on amenitized buildings with quality workspaces to help bring employees back and rebuild company culture.”
Kiefer represented building owner RE Development Solutions in lease negotiations with the three new tenants. In addition to Syngenta, Bethany Christian Services signed a 1,217-square-foot lease, and Retirement Solutions leased 1,044 square feet.
With these transactions, 2200 Cabot Drive is now 70% occupied, a significant turnaround from just 5% occupancy when RE Development Solutions acquired the building in November 2019. Since the acquisition, ownership has completed extensive renovations, including a redesigned lobby, updated first floor and fifth-floor amenity suite. Additional upgrades include a new on-site deli, exterior monument signage, building conference room, updated common corridors and washrooms, and new mechanical systems.
“We saw the potential in this building and the location, even when it was nearly vacant,” said Jeremy Szybowicz, leasing director at RE Development Solutions. “By reinvesting in high-quality finishes, amenities and move-in-ready spaces, we’ve been able to attract a diverse mix of tenants and bring new energy to the building as well as the corridor.”
The building continues to deliver spec suites to meet demand from small and midsize companies seeking turnkey space. 2200 Cabot Drive offers nearly 400 surface parking spaces and 29 heated underground executive parking spaces, as well as a common loading dock and on-site ownership and property management offices.
Currently, one divisible full floor of approximately 33,000 square feet remains available, along with four move-in-ready suites. Available spaces range from 2,200 to 33,000 square feet.
Situated in the East-West Corridor about 25 miles west of Chicago, 2200 Cabot Drive offers direct access to Interstates 88 and 355 and is just 2 miles from downtown Lisle — with commuter rail service via Metra’s BNSF Line — and less than 2 miles from Freedom Commons, a popular retail and dining destination in Naperville. The location draws from a deep suburban talent pool, with nearby amenities including hotels, restaurants and fitness centers.
About NAI Hiffman:
NAI Hiffman is one of the largest independent commercial real estate services firms in the U.S., with a primary focus on metropolitan Chicago, and part of the NAI Global network. The firm provides institutional and private leasing, property management, tenant representation, capital markets, project services, research and marketing services for owners and occupiers of commercial real estate. To meet its clients’ growing needs outside of NAI Hiffman’s exclusive territory, the firm launched Hiffman National, a dedicated property solutions division. NAI Hiffman | Hiffman National is headquartered in suburban Chicago, with more than 275 employees strategically located throughout North America. For more information, visit www.hiffman.com.
2200 Cabot Drive: NAI Hiffman completed three leases totaling more than 15,000 square feet at 2200 Cabot Drive, a recently renovated office building in Lisle, Ill., approximately 25 miles west of downtown Chicago.