CRE Midwest

Brunswick signs lease for 70,000 square feet at Columbia Centre III

Columbia-Centre-III

Brunswick Corp. has signed a direct lease agreement at Columbia Centre III in Rosemont for its Life Fitness headquarters, totaling approximately 70,000 square feet.

Brunswick Corp. has signed a direct lease agreement at Columbia Centre III in Rosemont for its Life Fitness headquarters, totaling approximately 70,000 square feet.

The company signed a long-term lease to occupy two-and-a-half floors of the Columbia Centre III building located at 9525 W. Bryn Mawr in Rosemont, beginning in February 2014. The lease brings the building occupancy to 97 percent. Life Fitness will be the largest tenant at Columbia Centre III and will be relocating from 5100 River Road in Schiller Park next year, where it has been a tenant since 2004. The lease agreement includes the landlord constructing a 6,000-square-foot fitness center that Life Fitness will use to equip and showcase its state-of-the-art fitness equipment.

The Brunswick lease represents the largest office lease transaction in the O’Hare market in 2012 with the second largest office lease transaction, World Kitchen, also executing a lease at Columbia Centre III earlier in the year. Columbia Centre III, which was 50 percent vacant when White Oak Realty Partners and Pearlmark Realty Advisors purchased the building 14 months ago, is now 97 percent leased.

The landlord was represented by Tom Saletta, a principal with White Oak Realty Partners who handles the leasing through his company Saletta Commercial Realty, and Brunswick was represented by David Saad and Chad Freese with CBRE.

A 165-year-old company, Brunswick Corp. is based in Lake Forest and is the world’s largest maker of pleasure boats, marine engines, fitness equipment and bowling and billiards equipment.

Columbia Centre I, II and III are owned by a joint venture between White Oak Realty Partners, Pearlmark Real Estate Partners and Angelo Gordon & Co.  The venture purchased the three building, 620,000-square-foot complex in August of 2011, and has committed $4 million in renovation of the three buildings.  Since acquisition, Saletta Commercial Realty has signed 13 new tenant leases totaling more than 186,000 square feet of new space, which represents 30 percent of the complex.