CHICAGO – Bradford Allen Realty Services is pleased to announce that the firm’s Senior Managing Director Joel Berger has completed a lease renewal on behalf of PSC Group for 9,700 square feet for the firm’s headquarters space located at 1051 Perimeter Drive (Woodfield Executive Plaza) in Schaumburg, Illinois.
Woodfield Executive Plaza was built in 1973, and offers a total of 196,144 square feet of office space. The 11-story property is conveniently located adjacent to the Woodfield Shopping Mall and several expressways. Sabal Financial Group purchased Woodfield Executive Plaza in 2014 and has put several renovation plans in place since the acquisition.
PSC Group is an information technology and business consulting firm founded in 1990. PSC Group focuses on delivering high value technology solutions that help clients achieve their strategic business objectives. The firm has been headquartered at Woodfield Executive Plaza in Schaumburg since 1996 and maintains satellite offices in downtown Chicago and Overland Park, Kansas. Due to an impending lease expiration at its headquarters, PSC engaged Bradford Allen to assist with evaluation of their space at 1051 Perimeter Drive and explore alternative relocation options in the Northwest suburbs. The resulting study ultimately led to a lease restructure and long-term extension in which Bradford Allen was able to achieve an immediate and significant rent reduction for PSC Group as well as other favorable economic terms and concessions. As a key part of the negotiation, the landlord agreed to replace the entire HVAC system and install new lighting throughout the premises while providing PSC with an additional allowance for other needed improvements.
“After working closely with the landlord, we were able to restructure a long-term lease renewal for our client with advantageous terms plus prominent monument signage on the frontage road in addition to PSC’s existing monument signage on Perimeter Drive,” said Berger “PSC Group explored other suburban locations for its headquarters, but at the end of the day Woodfield Executive Plaza offered an excellent location with great visibility, access to major expressways and the amenities of Woodfield Shopping Mall.”
Joel Berger represented PSC Group in the lease negotiations and Jack Reardon of NAI Hiffman represented Woodfield Executive Plaza.
About Bradford Allen Realty Services
Bradford Allen Realty Services, a Chicago-based commercial real estate firm, offers a full range of services and expertise to entrepreneurial and corporate business entities as well as not-for-profit organizations. The firm provides real estate strategy, advice, marketing, and transaction execution for occupiers, investors and owners of real estate.