Corn Products

Client Situation

Studley (now Savills Studley) was engaged to conduct a real estate strategic plan for Corn Products International, one of the world's largest corn refiners, to identify a headquarters real estate solution that would address image and exposure within the Chicago business community and maintain positive employee relation.  The firm’s main goal was to maintain its real estate occupancy costs while moving into a higher-quality facility.

Consideration Analysis

The former Corn Products International headquarters was located adjacent to its corn refining plant in the southwest suburbs of Chicago.  The facility was an owned, but outdated, lab facility that had been retrofitted to function as a headquarters. Due to its remote location, Corn Products was experiencing difficulty recruiting.  In addition, the outdated facility exhibited inefficiencies in workplace design and caused Corn Products to incur high maintenance costs.  These inefficiencies translated into less than optimal productivity and higher than normal costs.  Upon completion of the strategic plan and a thorough analysis of potential relocation options, Studley was retained to implement the recommended relocation of the corporate headquarters to a more favorable location near Oak Brook, Illinois.  Studley advisors supported all phases of the project.

Result

Corn Products’ relocation of its world and North American headquarters to a centrally located suburb of Chicago significantly improved recruiting and improve its image as one of the world’s largest producers of corn refined products.  Also, the more central location serves to enhance the exposure of the firm within the greater Chicago business community.  Through Studley’s negotiations, Corn Products achieved these objectives without increasing its real estate occupancy costs.

Summary Information

  • Property: 5 Westbrook Corporate Center, Westchester, IL
  • Transaction Size: 81,000 SF
  • Transaction Type: Lease Relocation
  • Service Line: Office

Meet the Team

Learner, Joe

Learner, Joe

Executive Vice President, Director
312.595.2915