Press Release – Hot Leasing as Temperatures Fall
90 North is delighted to report that after a flurry of leasing activity its office property outside Chicago, The Reserve at Deer Park, is now fully let after 130,000 sq.ft. of new leases
Two full floors of research and development laboratory and office space have been let. One floor to a tenant in the healthcare and biotech sector and the other to Teradyne, who specialize in the design, development and manufacture of automatic test systems for use in electronic systems.
Craig Millspaugh, Asset Manager of 90 North said, “We attribute the success of our recent leasing to the combined efforts of our new tenants, CBRE and JLL, as well as the unique building design and infrastructure, making our building best-in-class for the market’s research and development office users.”
This success followed a repositioning of the property as a technology, research and development park, along with a comprehensive refurbishment of amenity and shared spaces. These improvements included an updated gym, modernization of two conference rooms with massive video walls, new flooring and furniture in the cafeteria, the addition of space to allow tenants to eat, work and collaborate outside and the construction of an additional lobby entrance, with an open ceiling concept and modern furniture.
Significantly, the building also achieved a WELL Health-Safety rating in the spring of 2021. This provides the building’s occupants comfort that the landlord has prioritized their health and wellbeing, meeting the specified criteria, including air and water quality, emergency preparedness, and cleaning and sanitation procedures.
Sitting within a 50-acre campus approved for up to 800,000 sq ft of innovative technology, research and development dry lab and offices, The Reserve at Deer Park includes walking trails and natural wetlands, with land available for new build to suit opportunities.