Office Midwest

Prologis relocates to One O'Hare Centre

Jonathon Connor, associate; Francis Prock, principal; and Steven Kling, principal, all with Colliers International’s Chicago-based Office Advisory Group, represented owner CBRE Global Investors in a 11,917-square-foot new long-term office lease to Prologis at One O’Hare Centre, 6250 N. River Road in Rosemont.

OneOHareCentreJonathon Connor, associate; Francis Prock, principal; and Steven Kling, principal, all with Colliers International’s Chicago-based Office Advisory Group, represented owner CBRE Global Investors in a 11,917-square-foot new long-term office lease to Prologis at One O’Hare Centre, 6250 N. River Road in Rosemont.

With more than $46 billion in total assets under management, San Francisco-based Prologis is a leading owner, operator and developer of industrial logistics real estate across the Americas, Europe and Asia.  Prologis will be relocating its regional office from O’Hare Plaza to One O’Hare Centre in October.

“We look forward to moving into the One O’Hare Centre property,” said Carter Andrus, vice president-market officer for Prologis’ Chicago region. “We needed to be close to our properties and the homes of our employees, and this building’s central location is ideal. Additionally, we know our staff will appreciate the fantastic amenities within the building.”

One O’Hare Centre is a 12-story, 380,360-square-foot LEED certified trophy office development in the O’Hare submarket. CBRE Global Investors — a real estate investment management firm with $88.2 billion in assets under management — purchased the asset in 2012 and quickly implemented a $4.3 million renovation of the fitness center, common areas/grounds, five-star conference center and elevators.  The building currently has 27,929 square feet available for lease.

The vacancy rate in Chicago’s O’Hare office submarket totaled 21.0 percent in the second quarter of 2013, a five-year low.  Vacancy in Class A properties such as One O’Hare Centre is much tighter, measuring 15.9 percent.

Kevin Clifton and David Saad of CB Richard Ellis represented Prologis in the lease transaction.