Glenstar, a Chicago-based real estate company, recently announced that it has successfully executed new leases for 196,000 square feet of office space and renewed leases for 88,000 square feet at the Schaumburg Corporate Center in 2024. The three-building complex spans over one million square feet and is owned by Affinius Capital. It is located at the intersection of Meacham and Higgins roads in Schaumburg, Illinois.
According to Michael Klein, principal of Glenstar,”We are pleased to report that occupancy levels at Schaumburg Corporate Center have surpassed pre-pandemic levels.” He also added that the center has been performing better than its competitors. In November last year,Glenstar signed a lease with a media company for 61,295 square feet spread across three floors. This media company will be relocating its regional headquarters from Oak Brook,Illinois,and will become the largest tenant when it moves into their newly built-out space in April2025.
Apart from this major lease deal,the office complex also secured deals with other tenants including a manufacturing company leasing36 ,000squarefeetofspaceandapharmaceuticalcompanyrenting25 ,000squarefeet.The remaining nine new tenants leased spaces ranging from1 ,200to9 ,500squarefeet.This brings Glenstar’s total leased area to284K SFfortheyear2024atSchaumburgCorporateCenter.These developments were reported by Connect CRE .
