Warrenville, Illinois

Tenant, location, investor, lender, architect, contractor - Newcastle brought all the pieces together to develop Navistar’s new corporate headquarters and address the company’s important financial reporting goals.

The Need Navistar wanted to save long-term costs by consolidating occupancy from around the Chicago market. But the costs to buy out existing leases or sublease space would have a major negative impact on short-term earnings. A new headquarters project would have to satisfy employees from around the area and minimize the financial impact of the consolidation. The Assignment Newcastle professionals led the design of a 410,000 s.f., two–phase, corporate headquarters complex. Working with Navistar Treasury professionals, we structured a

15–year lease that enabled Navistar to recognize the cost of consolidation over that period, while providing expansion options to satisfy Navistar’s future growth.

The Result
This Class–A building enabled Navistar to consolidate its occupancy in suburban Chicago and substantially reduce long–term occupancy costs. This prominent development was named “2001 Build–to–Suit Project of the Year” by the National Association of Industrial and Office Properties.