Navistar, a global manufacturer and marketer of medium and heavy trucks and mid-range diesel engines (formerly known as International Harvester), closed on its acquisition of the former Alcatel-Lucent East Campus at Warrenville Road and Naperville Road, Lisle, it was announced.
A UGL Services brokerage team led by Senior Vice President and Managing Director Christopher Wood in Chicago, and Senior Vice President and Managing Director Art Waldrop in Atlanta, with assistance from Senior Vice Presidents David Stefancic; Scott Goldman; Vice President William Tom in Chicago, and Senior Vice President Rick Nash in Atlanta represented the seller, Alcatel-Lucent, in negotiations with Navistar.
Navistar was represented by a Jones Lang LaSalle (JLL) team led by John Musgierd, Managing Director of JLL in Chicago. The final agreement culminates a successful marketing campaign launched by UGL Services in early March 2009, to dispose of the entire 87-acre, 1.2 million rentable square-foot campus, located in the heart of the I-88 Hi-Tech Corridor in suburban Chicago.
"UGL Services is very pleased to have been in a position to partner with Alcatel-Lucent in this significant facility disposition effort," commented Chris Wood. "The successful close of this transaction is a very positive event for Alcatel-Lucent, Navistar, the Chicago region and the State of Illinois."
Navistar employs 16,000 worldwide, and the Lisle campus will become its Corporate Headquarters and a major R&D facility. The Company will retain or create an estimated 3,100 white-collar jobs from the ranks of executive management, business operations and product development.
Final terms of the agreement were not divulged.
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“The significant increase in used commercial vehicle registrations so far this year is indicative of an improving business climate as companies update their equipment with newer models,” said Meteer. “Large fleet owners and operators are upgrading to new vehicles, and therefore the smaller fleet companies and independent owner operators have great opportunities to find available clean used equipment.”
