Nearly a year after taking control of a troubled Vernon Hills office building, a joint venture led by developer Janko Group LLC has signed its first big lease, for 140,000 square feet, despite the weak demand for space in the northern suburbs.
Medical device maker CareFusion Corp. signed a 10-year lease at 75 N. Fairway Drive in Vernon Hills, which the Janko venture took title to in July 2011 after a default by the previous owner.
The Lake County submarket has struggled to attract tenants in recent years, with the suburbs’ highest overall vacancy rate. Many firms are increasingly looking to move to downtown Chicago, where they can more easily recruit younger workers, offsetting the northern suburbs’ appeal as a haven for pharmaceutical firms and medical equipment manufacturers.
