Sterigenics To Keep HQ in Suburban Chicago
Chicago, IL (January 1, 2010)
In a transaction that reflects the opportunities for tenants in today’s soft commercial real estate market, Sterigenics International, Inc. has renewed the 18,541-square-foot lease on its North American headquarters located at 2015 Spring Road in Oak Brook, Illinois, a suburban Chicago submarket in the East-West Corridor.
The lease terms, negotiated by Jon Azulay and Robert Sevim of international commercial real estate services firm Studley, will reduce the company’s occupancy costs and allow it to modify a portion of its space, using a tenant-improvement package provided by the landlord, Arden Realty, to operate more efficiently.
“The East-West Corridor has become a hotbed for national and global headquarters, creating a prestige and synergy that continues to grow,” shared Mr. Azulay. “Keeping Sterigenics in its headquarters location was the optimal solution for our client, and with the lease package that the landlord agreed to, we were able to structure a transaction that provides significant immediate and long-term cost savings for Sterigenics.”
The firm had two-and-a-half years remaining on its lease, when it made this long-term commitment.
Studley represents Sterigenics globally. Karla Harmon and Jeffrey Shay of Jones Lang LaSalle represented the landlord.
Sterigenics is the world leader in contract sterilization and ionization services for the medical device, food safety and high performance-specialty materials industries. The company has more than 1,200 employees and operates 39 service centers in North America, Europe and Asia.
Studley is the only global tenant advisory firm with a pure tenant representation delivery platform. Founded in 1954, Studley pioneered this conflict-free business model. Today, with 19 offices nationwide and an international presence through its London office and AOS Studley throughout Europe, Studley provides strategic real estate consulting services to top-tier corporations, law firms, nonprofits, government agencies and institutions of higher education. Information about Studley is available at www.studley.com.