Mizkan America, the maker of Ragu spaghetti sauce and other specialty foods, will soon move its headquarters to northwest suburban Schaumburg. The company leased the top two floors of the Woodfield Corporate Center complex at 200 N. Martingale Road and will also open a 7,000-square-foot kitchen space and product display center on the adjacent building’s ground floor.
It’s a chance for the Mount Prospect-based firm to occupy remodeled space in a development that offers a new fitness center and outdoor recreation complex with sand volleyball, walking trails and a picnic area.
“It is a transformational move for Mizkan and allows the company to provide an enhanced workplace that both employees and clients can savor,” said Savills Chicago region President Robert Sevim, who helped Mizkan negotiate the deal. The property owner, Sperry Equities, was represented by Doug Shehan and Rick Benoy of JLL.
It’s getting more difficult for suburban firms to make such moves, even though the region suffers from a high vacancy rate, according to a recent Savills report. Nearly one-third of suburban office space is available, and with an availability rate of more than 35%, the northwest suburban market fares the worst. But leasing remains slow, as many owners don’t have enough capital to pay for needed build-outs or handle other financial obligations.
“As a result, tenants in the market are becoming increasingly focused on true Class A buildings with preexisting built-out space,” Savills said.
Mizkan America, a subsidiary of the Japanese food manufacturer Mizkan Group, will relocate from 1661 Feehanville Drive in Mount Prospect to its new offices in the fourth quarter of next year, company officials said. Crain’s Chicago Business first reported the move.
“When we make the move to our new headquarters next year, I’m confident this location will be an inspiration to our team,” said Mizkan America CEO Koichi Yuki.
