Inspired By Somerset Signs Cambium Networks For 35K SF Lease In Hoffman Estates

Inspired by Somerset Development has signed Cambium Networks for a 35,000-square-foot lease at its former AT&T office campus turnaround project in Hoffman Estates, reducing suburban Chicago's record-high vacancy rate. The office complex's occupancy rate is now above 60 percent with other new tenants like JumpFly and Vipar Heavy Duty, as Inspired plans to develop a "metroburb" with office, dining, shopping, and residential spaces on the 150-acre property.

Summary of transation details

• Property Type: Office
• Transaction Amount: N/A
• Address: 2000 Center Drive
• Market: Hoffman Estates
• Landlord: Inspired by Somerset Development - Ralph Zucker & Bell Works
• Tenant: Cambium Networks - Morgan Kurk
• Landlord's Rep: Steve Kling - Colliers
• Tenant's Rep: Andrew Kaplan & Jon Springer - CBRE
• Asking Rent: $28/ft.
• Lease Terms: long-term

The deal was facilitated by Andrew Kaplan and Jon Springer from CBRE, representing Cambium Networks as the tenant. Steve Kling, the Colliers representative, handled the negotiations on behalf of Inspired by Somerset Development, the landlord. This lease agreement has contributed to the increase in occupancy at the former AT&T office campus turnaround project, with the addition of Cambium Networks to the growing list of tenants.