The potential sale is a sign that yet more pain is on the way for suburban office markets.
Walgreens plans to sell off more than half of its north suburban Deerfield headquarters, according to a message sent to employees Friday afternoon by CEO Roz Brewer. A hybrid strategy launched last year that allows many employees opportunities to work from home has left much of the sprawling, low-slung office campus along I-94 empty, so the company will shift personnel to its remaining buildings on the property’s southern edge.
The company will move all Deerfield employees into several buildings on the 100 block of Wilmot Road just north of Lake Cook Road and sell its adjacent buildings on the 200 and 300 blocks of Wilmot, she added.“We recognize the way we work has changed and with our hybrid model valued by our team members, we have underutilized space on our Deerfield Campus,” a Walgreens spokesperson stated in an email to the Tribune.
Most were already suffering high vacancy rates after companies, including McDonald’s and Motorola Solutions, shifted their headquarters in the past decade from 1970s-era suburban campuses to sleek new offices downtown. The pandemic then emptied out more buildings as people found they could work comfortably from home, and even with the number of employees coming into the office at least several days per week inching up, many companies realize they need far less space.
Stagnant leasing throughout much of 2022 left vacant nearly one-quarter of the north suburbs’ 26 million square feet of office space, according to Colliers, up from about 20% when the pandemic hit in early 2020.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
20-year-old son stabbed mother to death, slashed father: NYPDPolice say 20-year-old Dennis Cho is facing multiple charges, including murder for allegedly stabbing his 60-year-old mother to death and slashing his 61-year-old father.
Read more »
Police search for missing 16-year-old in Cumberland CountyThe Monroe Township girl was reported missing at 11:30 p.m. on Feb. 15, and has not been seen since.
Read more »
Cops Arrest Son for Stabbing Death of 60-Year-Old Mom Inside NYC HomeA Queens man is in custody facing a murder charge for allegedly killing his mom and injuring his dad inside the parent’s home on Friday, police officials said. Dennis Cho, 20, was taken into custody at the Flushing home around 2 p.m. after police responded to a 911 call. At the home, they found the 60-year-old woman flying on the…
Read more »
2 ‘old farts’ set up at park to give out free adviceTwo men say they are giving out free advice along with a few laughs.
Read more »
Hit-and-run in south Phoenix leaves 31-year-old man deadJuan Bazan, 31, was identified as the victim in a Feb. 25 hit-and-run in south Phoenix. The suspect remains unidentified.
Read more »
Man, 35, and 15-year-old arrested for Georgia gas station shooting that injured 9 kidsColumbus police announced they arrested D’Angelo Robinson Sr., 35, and the teen, who was not named because of his age.
Read more »