New Deals and Lease Renewals at Brookfield Lakes

Corporate park occupancy grows five percent during first two quarters of 2013.

Brookfield, Wis – CORE Realty Holdings Management, Inc. (CRH) is reporting that 75.3% of its 506,000 square feet of office space in Brookfield Lakes Corporate Park is occupied. This is a five percent increase from the end of 2012.

CRH attributes this growth to the improving economy and the ability of its Brookfield Lakes team to get deals done.

“We have a great product and we have been very aggressive in our negotiations,” said John Arlotti, VP Commercial Properties at CRH. “Both brokers and tenants know we’re coming to the table with flexible options and generous tenant improvement allowances. We’ve added several new tenants, while others have renewed leases or expanded in the park.”

The regional office of Aflac, the number one provider of guaranteed-renewable insurance in the U.S., is one of these new tenants, leasing 4,142 square feet at 300 W. Corporate Drive.

“When we decided to combine our Brookfield and Wauwatosa offices under one roof, we looked at several options,” said Scott Lee, Aflac Regional Sales Coordinator. “Since our reach extends up to Sheboygan and out towards Madison, Brookfield Lakes was a top contender for its prime location, easy freeway access and great amenities. CRH worked with us to make the deal happen and Inland Construction was great with the build-out.”

Once an open plan with a few offices, the new Aflac space incorporates a large conference room and enough space for on-site staff, agents and weekly regional meetings.

“Private offices feature walls that incorporate glass so that light from the windows carries through the space and keeps a bright, open feeling,” noted Inland Construction Vice President Cory Pederson. “We used the same concept for the conference room and opened up the kitchen, as well.”

CRH and Inland Construction have formed a working relationship to make the most of tenant improvement allowances and expedite the build-out process. For the Aflac project, there was a mere seven weeks from plans to tenant move-in.

“A 30-day construction process is remarkable,” said Kristin Welsh, CRH Director of Management and Leasing at Brookfield Lakes. “We are able to collaborate with Inland Construction, the tenant and the City of Brookfield to ensure occupancy can take place as soon as possible. It's just another advantage of being an on-site property manager.”

In addition to Aflac, Brookfield Lakes also welcomed Accelogix, CEO Sports and Midwest Mortgage as new tenants. Lease renewals since January include Construction Labor Contractors, Richard Dallen/Ameriprise, Genex Serives, The Legacy Group and Trilogy Health Insurance. Connecture expanded its space at 18500 W. Corporate Drive and Future Electronics moved to a new building and has also expanded. Fiserv and FDIC both renewed their leases for the next five years.

In second quarter 2013 figures recently released by Xceligent, Brookfield Class “A” office vacancies were 20.1%, a 3% improvement over the same period in 2012.

“There is really no comparable office space in Brookfield,” said Welsh. “In addition to 13 Class “A” properties with very flexible office space, Brookfield Lakes is truly a park-like campus with a lot of natural landscaping and lakes that make it a great home for business.”

For more information, please contact Kristin Welsh at kwelsh@crhmi.com or visit www.corebrookfieldlakes.com.

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About CORE Realty Holdings Management, Inc. (CRH)

Based in Newport Beach, California, CRH Management offers a broad spectrum of real estate services in the office, industrial, retail and multi-family industries. The CRH Management Inc. team has over 100 years of combined management experience with strong ties to the local communities. The employees of CRH have the knowledge and experience to accomplish positive results with up-to-date tools to direct the properties to success.

About Brookfield Lakes:

• 13 beautiful, easily configurable Class “A” office buildings in the City of Brookfield, Wis.

• Extensive natural landscaping, ponds and conservancy

• Professional on-site leasing and management by Core Realty Holdings Management, Inc.

• Tenant in Common (TIC) areas maintained by Core Realty Holdings Management, Inc.

• Two operations engineers and a dedicated HVAC technician provide 24-hour maintenance

• Short- and long-term leases available, including move-in ready suites

• Easy access to all of Southeast Wisconsin via Bluemound Road and I-94