Kaufman, University Swap Space in Suburbs
June 28, 2012
By: Robert Carr
National Louis University and Kaufman Hall, an independent consulting firm for healthcare organizations, have swapped office space here at Old Orchard Towers. ...
... Now, the college has taken Kaufman’s space on the second floor, and Kaufman expanded to the entire fifth floor to lease 50,653 square feet at the property, says Jonathan Metzl with Studley.
He and John Goodman represented Kaufman in the lease. ...
... The building to the south is about 95% occupied, including tenants SG2, AAAHC and HQ Global Workplace and the Kaufman/National (north) occupied tower is also about 95% leased, Metzl tells GlobeSt.com. However, SG2 will vacate about 25,000 square feet in the fall.
He says the Kaufman expansion is atypical of the current trend of consolidation by suburban office tenants in this tenant-favored market. “We are seeing that the O’Hare office market is showing some signs of turning toward landlords, there’s fewer available blocks of space,” Metzl says. “O’Hare has a smaller market than most of the suburbs, and it’s more central, for employees both here and downtown.” However, recent second quarter numbers from Studley show that there’s little hope of any occupancy increase in the suburban market, with excess supply across many of the submarkets.
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