Rotary Center Bucks Vacancy Trends

EVANSTON, IL-Occupancy at Rotary Center has hit 93% with five leases totaling 20,000 sf. Rotary International’s 370,000-sf building at 1560 Sherman Ave. bucks the trend in this North Shore suburb just north of the city, where office vacancy approaches 20%.

Fippinger & Simon is moving its dental practice from 636 Church St. to 4,500 sf at Rotary Center. SignatureWeb Medical Inc. also is relocating from within Evanston, as it moves from 1330 Sherman Ave. to 3,000 sf at Rotary Center.

Meanwhile, Grace Brothers, Ltd. has renewed its 6,600-sf lease, Romano Brothers & Co. has renewed a 4,500-sf lease and taken an additional 1,400 sf and Milburn Corp. renewed a 1,404-sf deal.

Published gross lease rates at the 18-story building are $28.50 per sf.

Cushman & Wakefield senior director Howard Perino represented Rotary International. Chuck Logan of HSA Commercial Real Estate represented Fippinger & Simon while Boris Yelyashov of MB Real Estate represented SignatureWeb Medical Inc.

“Here we have a building in the suburbs, where vacancies are 20% to 30% in many buildings, experiencing very good lease-up,” Perino says.