Valspar Corporation hired Jack Rosenberg, Frederick Regnery, and David Burden to provide tenant representation services for a new regional and division headquarters office in the Chicago market. New leadership at Valspar was interested in relocating from outdated office space connected to its warehouse and distribution center in Wheeling for the growing $1 billion Architectural Division management and staff.
The goal was to improve productivity, recruiting, accessibility, and image by taking advantage of marketing conditions and upgrading quality at compressed rental rates for an imaging and branding makeover.
Colliers introduced Valspar to the right architect to assist with design and space programming upfront to define the requirement. Colliers’ Needs Assessment process helped Valspar narrow the site search quickly to the centrally located O’Hare office market. The search area had to offer Class A office space with signage visible from the Kennedy Expressway, public transportation, ease of access, and a stable landlord meeting market rates. The competing properties narrowed to two highly comparable buildings that created ideal leverage for Valspar’s requirements.
Colliers advised Valspar in lease negotiations for the premiere office space in the market and achieved an attractive concession package for space that was already nicely furnished. Valspar Architecture’s new divisional headquarters space featured more benefits that originally hoped with commanding views of the market, two exterior building signs, and below market terms on space that was already nicely equipped so Valspar could spend their allowance funds on more soft costs.