American Access Co. Expands to 20,000 SF

OAKBROOK TERRACE, IL-American Access Casualty Co., based here, has expanded its office space at Summit Oaks office building to 19,816 sf. The insurance company had previously occupied around 15,358 sf, but has expanded into an additional 4,458 sf of space adjacent to their original location. The company will now occupy space on the top floor of the three-story building at One S. 450 Summit Ave. in Oakbrook Terrace.

Daniel B. O’Neill and James Adler, EVPs with NAI Hiffman’s Office Brokerage Group, represented both the owner, TA Associates Realty, and American Access in the long-term lease expansion. They were not available for comment.

The asking lease rate in the 91,844-sf building is $11 per sf. The occupancy rate in the building is about 85%. The office building, which dates back to the early 1980s, is in the Interstate 88 East submarket. This market has an average occupancy rate around 81%, with asking lease rates ranging from around $21 to $26 per sf, according to a Grubb & Ellis second quarter market report.