| With vacancy rates as high as 24% in some suburban submarkets, Itasca-based Hamilton Partners has sought new ways to make money since it last developed a building in Illinois in 2008. 700k-SF of new management assignments and seven buildings seeking LEED certification have helped with that. | |
| Yesterday at Hamilton Lakes office park, one of the company's four suburban offices, we found Rick Stabeck, Kirk Hamilton, David Andrews, and Phil Sheridan. Rick and JV partner Kennedy Associates are pursuing LEED Silver or Gold for all the buildings they own and manage; smart building automation and plumbing are key, Rick says. He tells us USGBC stats show the average lease in a LEED-certified building is 3.5% higher in price. | |
| Hamilton has also recently retained a management and leasing assignment at Arboretum Lakes Office Park in Lisle, now owned by Millbrook Real Estate Company. It signed over 80k-SF of leases since Millbrook purchased the complex in September and is seeking tenants for the remaining vacant 270k-SF. Plus, it's branched out geographically to develop a 430k-SF office tower at 222 S. Main in Salt Lake City, which opened with Goldman Sachs as the anchor tenant in December. The 23-year-old company was founded by six partners from the original Trammell Crow Co. in Chicago, and many of the partners (and their children) are still working there. |
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