WEDNESDAY, FEBRUARY 11, 2009

Alcatel-Lucent campus for sale

by Maureen Wilkey
Chicago-> DuPage

An eight-building, 85-acre campus in Chicago's western suburbs will soon be up for sale with the help of UGL Equis. The 1.2 million square foot Alcatel-Lucent site at 2601 and 2701 Lucent Lane in Lisle could find potential re-use either as an investment property for lease to multiple tenants or a corporate headquarters for a regional or national firm, says Chris Wood, senior vice president and managing director with UGL Equis.

"It's a really neat value proposition for a user who wants to have an immediate presence in the East-West Corridor," Wood says.
Alcatel-Lucent hired UGL Equis to do the disposition of the property, which is near Warrenville and Naperville Roads along Interstate 88. Alcatel-Lucent is still using the building, but will phase out of the property as the new owner takes over.

While the sale of the property won't have an immediate impact on the high vacancy rates in the corridor, it would offer the Village of Lisle an opportunity to bring one or more prominent corporate users to the site, Wood says.

"The Village of Lisle has been very supportive and very excited about the project," he says.

The eight buildings on the site were built from 1982 to 2000. As Alcatel-Lucent's research and development campus, the structures are equipped with a tremendous amount of power, as well as an efficient floorplate, fantastic visibility and proximity to several major arterial roadways, Wood says.

The UGL Equis broker team of Wood and Senior Vice Presidents Scott Goldman, David Stefancic and Vice President William Tom in Chicago teamed with Senior Vice Presidents Art Waldrop and Rick Nash in Atlanta; will represent Alcatel-Lucent in this sales effort.

No timetable has been set for disposing of the property, and the company will react to market needs, Wood says. The campus was developed for and by Alcatel-Lucent.

Ulmer & Berne signs lease for new Chicago headquarters CB Richard Ellis to provide leasing and management services at Missouri office center Cushman & Wakefield: Twin Cities poised for stronger 2010, 2011 Grubb & Ellis negotiates 90K S.F. renewal NAI DESCO facilitates pair of office/warehouse leases in Missouri KBS Realty and FDIC finalize lease NAI Daus brokers sale of 10,000-square-foot office building in Ohio Two law firms take 100K S.F. in direct leases at One North Wacker Podolsky Northstar represents Management Association of Illinois in lease renewal Grand Rapids office market remained sluggish in fourth quarter of 2009