Follett Signs 82,305-SF Deal for Oakmont Space

WESTMONT, IL-Follett Higher Education Group has signed a 10-year lease for 82,305 sf at Oakmont Tech Center here, making the company a tenant in five area buildings owned by Indianapolis-based Duke Realty Corp. The textbooks and management systems provider will continue to lease space in Oak Brook in addition to the new deal at the 110,659-sf 600 Oakmont Ln., which is now 100% leased.

Although terms were not disclosed, the flex space had been on the market at net lease rates ranging from $4.50 per sf to $11.50 per sf. The three-story building is across the street from the REIT’s Oakmont Corporate Centre, which offers a fitness center, deli, day care and conference facilities. Peter Adamo from CB Richard Ellis represented Duke Realty Corp. along with the REIT’s vice president of leasing, Ryan O’Leary. Sven Sykes of Grubb & Ellis represented Follett Higher Education Group.

“We have had a high level of recent activity in the I-88 submarket, and are looking forward to continued success in the new year,” says Duke Realty Corp. senior vice president Steve Schnur.