Located at 22nd Street and Wolf Road, just east of Oak Brook, Ill., the 1.15-million-square-foot Westbrook Corporate Center is currently 83 percent leased and hosts anchor tenants such as Follett Corporation and Ingredion.
“This is one of the most prominent office centers in the western suburbs,” said CBRE’s Robbins. “With the investments that Equity Office has already made, along with the additional capital planned, Westbrook Corporate Center will continue to be a top destination for businesses seeking quality space in the suburbs.”
Equity Office has recently implemented several upgrades to the office park, with significant investments and capital improvements in main lobbies, conferences facilities and its fitness center. Ownership is also developing multiple spec suites that will range from 2,000-to-6,000 square feet. The suites are slated to be completed early next year.
The East-West Corridor has remained one of the strongest suburban markets. According to CBRE Research, the overall vacancy rate has decreased 50 basis points from this time last year, while overall asking rates have increased 1.6 percent year-over-year.
“With the access to talent and strong concentration of corporate users, the East-West Corridor remains one of the preferable locations in the Chicago area to do business,” said Robbins.
About CBRE Group, Inc. CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.