Capital One leases office space in Rolling Meadows
In one of the largest suburban commercial real estate deals this year, credit card company Capital One Financial Corp. has leased 150,000 square feet of office space in the Rolling Meadows Atrium Corporate Center and will eventually house up to 1,000 employees at that location, officials said.
Capital One's lease will take up nearly a third of the space at the 483,000-square-foot property at 3800 Golf Road, which is owned by San Francisco-based real estate investment firm Spear Street Capital.
In May, McLean, Va.-based Capital One made it's first foray into the Chicago area when it acquired HSBC Holdings PLC's credit card portfolio for $31.3 billion.
About 450 employees from HSBC's Elmhurst facility will be moving to the new Rolling Meadows office in early 2013, with more employees to follow, said Julie Rakes, spokeswoman for Capital One.
"Chicago has an experienced and talented workforce and we are excited to maintain a presence in the area," Rakes said.
Rolling Meadows Community Development Director Valerie Dehner said the deal has been in the works for several months.
"It's quite a coup for us to get such a large deal," Dehner said, adding that the acquisition is the second largest office deal of the year in the Chicago suburbs.
"This will help because it will bring more people into Rolling Meadows for work," she said.
The lease brings the Atrium Corporate Center's occupancy rate up to nearly 100 percent, said Mayor Tom Rooney.
"It couldn't come at a better time," Rooney said. "It's nice to get a win out there in today's real estate market, especially when you're talking about office space."
Capital One officials said the employees at the Rolling Meadows location will be primarily focused on credit card servicing.
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