Many suburban office submarkets are plagued by extremely high vacancy rates, and theoretically that should make it easy for tenants to find suitable spaces. But since many of those empty offices sit within obsolete buildings and campuses, a new wave of office build-to-suits has begun flooding the suburbs...
...the Big Ten Conference outgrew its 25,000-square-foot headquarters in Park Ridge and chose a 50,000-square-foot build-to-suit in Rosemont. The new building, at 5420 Park St. in MB Financial Park, opened last year.
“For them, having access to hotels and access to the airport is key,” Robert Sevim of Studley, who represented the athletic conference, told GlobeSt.com. And “for their size requirement, there was nothing that presented an opportunity to just go in and open up shop.”Build-to-Suits Changing Sub. Office Markets
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