Media company takes 61,295 SF to become largest tenant at complex in Schaumburg, Ill.

Chicago-based Glenstar, a national commercial real estate developer, owner and property manager, today announced it executed a total of 196,000 square feet of new leases for 12 tenants and 88,000 square feet of renewals in 2024 at Schaumburg Corporate Center. Owned by Affinius Capital, the three-building, 1 million-square-foot office complex is located at 1475, 1501 and 1515 E. Woodfield Road at the corner of Meacham and Higgins roads in Schaumburg, Ill.

These signings helped Schaumburg Corporate Center achieve 78% leasing status by the end of last year, which was the highest occupancy amongst Class A assets in the Northwest suburbs, according to CoStar.

“We are now above pre-pandemic occupancy levels at Schaumburg Corporate Center, which is performing far better than its competitors,” said Michael Klein, principal of Glenstar, the leasing agent and third-party property manager of the office center. “Companies see the value of relocating to the complex with its modern amenities, ideal location in the heart of Schaumburg and excellent community-building tenant engagement programming.”

In November, Glenstar executed a lease with a media company for 61,295 square feet, spanning three floors. The media company is relocating its regional headquarters from Oak Brook, Ill., and will be Schaumburg Corporate Center’s largest tenant when it moves in April 2025 following tenant buildouts.

“This corporate relocation represents a major upgrade in office space and access to best-in-class amenities for the company,” said Klein. “Environments that make employees productive and eager to come to work are what we specialize in, and it’s rewarding to see so many corporations recognize that and choose Schaumburg Corporate Center for their office space.”

Other 2024 new leases at the office complex include a manufacturing company that signed for 36,000 square feet and a pharmaceutical company that took 25,000 square feet of space. The remaining nine new tenants leased office space ranging from 1,200 to 9,500 square feet.

Current tenant Bectran, an SaaS platform used to streamline credit processing and reduce credit defaults and collection costs, signed a lease extension, which includes an expansion of its current space to over 20,000 square feet.

Approximately 82 businesses are currently located at Schaumburg Corporate Center. Other large tenants include Citigroup, a financial services holding company; Misumi USA, a provider of components for the manufacturing industry; American Agricultural Insurance Company, a reinsurance company; and Munich RE Specialty Group N.A., Inc., provider of insurance and surety solutions for transportation and logistics service providers.

Extensively renovated in 2018, Schaumburg Corporate Center features a 17,000-square-foot sunlit glass-and-steel atrium that hosts live music and offers abundant gathering areas. Other amenities include a tenant lounge with an outdoor seating area, a 12,000-square-foot conference center and a 10,000-square-foot renovated health club. Last year, Glenstar added a new private dog park on the property, making it the largest dog-friendly office building in the area.

Schaumburg Corporate Center is just steps from Woodfield Mall in Schaumburg and is surrounded by numerous dining, shopping and entertainment options. The office complex offers easy access to Interstates 90 and 290 and Route 53 and is located just 14 miles from O’Hare International Airport.

About Glenstar:

Glenstar is a Chicago-based national commercial real estate firm specializing in industrial development, reimagined office and multifamily properties. Founded in 2004 by Michael Klein, along with Rand Diamond, Glenstar has successfully developed or redeveloped more than $2 billion in commercial space comprising 10 million square feet across the U.S. Its nimble, tenant-focused approach and vertically integrated structure allow Glenstar not only to pursue and execute opportunistic projects, but also to oversee and manage them seamlessly.

About Affinius:

Affinius Capital® is an integrated institutional real estate investment firm focused on value-creation and income generation. With a 40-year track record and $64 billion in gross assets under management, Affinius has a diversified portfolio across North America and Europe providing both equity and credit to its trusted partners and on behalf of its institutional clients globally. For more information, visit www.affiniuscapital.com.