NAPERVILLE, Ill. (December 5, 2008)—The Chicago office of Ryan Companies US, Inc., in a joint venture with The Harp Group, will break ground in December on Rosemont Corporate Center, a $37 million, 119,000-square-foot, Class-A office building in Rosemont, Ill.
Cisco Systems, the San Jose, Calif.-based computer networking company, which currently occupies space in another O’Hare market office building, will lease approximately 82,000 square feet of space. The new four-story building is being designed and will be constructed to meet the criteria for LEED certification. Cisco Systems’ space will achieve LEED Silver certification.
“This represents a great opportunity for Ryan to showcase to Chicago its capabilities in developing Class-A office buildings,” said Tim Hennelly, Ryan’s vice president of development. “It also demonstrates that, in this marketplace, with all the right circumstances, substantial transactions and significant developments can and will take place.”
Rosemont Corporate Center will be located on a 3-acre site bounded by Balmoral Avenue, River Road and Interstate-294. The site is immediately west of the recently opened Intercontinental Hotel, which was also developed by The Harp Group. The Intercontinental Hotel is a 12-sory, 556-room full-service luxury hotel.
In addition to the Cisco Systems lease, The Harp Group itself will lease approximately 8,500 square feet of space in the new building. Dan Hession from The Harp Group will market the remaining space, roughly 30,000 square feet.
One of the critical elements that will allow building tenants to achieve LEED-Silver certification is an Under Floor Air Distribution system. Other “green” features include energy efficient mechanical and electrical systems, and water conservation plumbing features.
“Sustainability was an important consideration for Cisco Systems, and one that was fully supported by Ryan,” Hennelly said. “As a company, Ryan embraces sustainable design and construction, and we have made it a strategic initiative to increase the number of LEED projects in our development pipeline.”
Hennelly added that he believes demand for LEED-certified buildings only will increase, putting Rosemont Corporate Center in a great position to serve companies with space requirements that include occupancy in a sustainable environment.
Site work will begin in December. The building will be ready for occupancy by Cisco Systems and The Harp Group by the second quarter of 2010.
Wright Heerema Architects designed the building. Other members of the development team include Peter Dumon and Eric Nolin from The Harp Group, Jay Olson, Robert Wehner and Steve Golumbeck from Ryan Construction.
Rosemont Corporate Center represents the first ground-up office development for Ryan Companies in Chicago. Since entering this market almost a decade ago, Ryan has gained its reputation for developing, constructing, owning and managing industrial parks, retail centers and medical office buildings and other projects
Across the country, in the last three years, Ryan has designed, developed and constructed 11 office projects totaling 6.6 million square feet of space.
About Ryan Companies US, Inc.
Ryan Companies US, Inc., a nationally recognized design-builder, developer and real estate manager, has specialized in providing fully integrated solutions for more than 70 years. In 2007, the National Association of Industrial and Office Properties (NAIOP) named the firm National Developer of the Year. Ryan is also currently ranked 54th in Engineering News Record’s (ENR’s) list of Top 400 Contractors. In its first 10 years of operation, Ryan’s Midwest Division (based in Chicago) has completed over $1 Billion in projects for customers such as Sears, Deere and Company, Isle of Capri, Target Corporation, Dominick’s and C. H. Robinson. In addition to its Chicago office, Ryan has offices in Minneapolis, San Diego, Tampa, Phoenix and Cedar Rapids, Davenport and Des Moines, Iowa.
About The Harp Group
The Harp Group is a Chicago based real estate investment and development company that specializes in creating hospitality and mixed-use destinations through imaginative and enduring designs. The firm owns and manages a number of properties in the Chicago metropolitan area, including.