CBRE Arranges Long-Term Office Lease Restructure and Renewal in Suburbs

CBRE has arranged a long-term 51,000 square foot office lease renewal on behalf of their client, Inspira Financial. The health, wealth, retirement, and benefits services provider has been a long-term tenant in the building and has committed to another sizable long-term lease commitment at Commerce Plaza.

CBRE’s Jon Springer and Gary Fazzio represented Inspira Financial in the transaction.

Located at 2001 Spring Road, Commerce Plaza is a 510,000 square foot Class A office campus made up of three interconnected buildings. Inspira plans on fully modernizing its space to reflect its first-class culture, service, brand, and people.

“Providing a premiere employee experience is paramount for a company that is returning to the office in a material way,” said Springer. “After a thorough vetting of the market, well-located and highly amenitized space coupled with an incredible economic package gave Inspira comfort to make long-term commitment.”

Class A space is far outperforming Class B and C space in the Chicago Suburbs according to a recent CBRE report. In the East-West Tollway submarket, Class A space had positive absorption of 142,058 square feet in 2023 while B and C space had negative absorption of 647,054 and 51,147 square feet respectively.