Hospira Signs Build to Suit for Office Building Near Chicago HQ

Crain's Chicago Business - June 14, 2006

Lake Forest-based Hospira Inc. has signed a long-term lease for a proposed 102,700-square-foot-office building to be developed by Duke Realty Corp. near the hospital products maker's headquarters in the Conway Park development, according to people familiar with the transaction.

As part of the deal, Duke is likely to expand the building to more than 135,000 square feet, adding a lower-level to the three-story structure that Hospira would use in part for a data center, sources say. Duke edged out rival developer Opus North Corp. of Rosemont, which has been vying for Hospira with an office building proposal of its own at a nearby site.

Daniel McCarthy of Chicago real estate firm Jones Lang LaSalle Inc., which represents Hospira, confirms that a lease had been signed, but declines further comment. Steve Schnur, senior vice president in local office of Indianapolis-based Duke, declines comment.

Hospira, a 2004 spin-off from Abbott Laboratories, is outgrowing its existing building at 275 N. Field Drive in Conway Park.

Called the Cadence at Conway Park, the building is expected to be completed next summer. A Hospira representative could not be reached for comment. Sphere: Related Content