CRE Midwest

Podolsky|Circle completes transaction on behalf of ownership

1755-Park-Street
1755 Park Street

Podolsky|Circle CORFAC International announced that Citizens Bank, N.A. has leased 2,860 sq. ft. of space at 1755 Park Street in Naperville, IL.

Podolsky|Circle CORFAC International announced that Citizens Bank, N.A. has leased 2,860 sq. ft. of space at 1755 Park Street in Naperville, IL. The 3-story 37,685 sq. ft. office building is part of the Park Place of Naperville office park located just off Diehl Road.

With this new tenant, 1755 Park Street is 91% leased. CP Highlands Fund LP (CPH), a Chicago area based commercial real estate investment fund, acquired the building in July of 2013. In the year since, CPH and has increased occupancy as well as instituted numerous improvements, such as interior and exterior upgrades, new monument signage, common area enhancements and various eco- friendly initiatives.

Citizens Bank, N.A., a subsidiary of Citizens Financial Group, Inc., will use the space as a non-retail mortgage unit. Citizens Financial Group, Inc. currently has 1,200 branches, 3,200+ ATMs and 18,400 colleagues in 12 states covering New England, the Mid-Atlantic and the Midwest.

Adam J. Tarantur, CCIM, Principal at Podolsky|Circle CORFAC International, represented Ownership in the transaction. Citizens Bank was represented by Patrick Elwood of CBRE.