Tishman Speyer Secures Tenant at Chicago Office Complex

Regulation agency Hanley Flight & Zimmerman has signed a 13,943-square-foot lease at CME Heart, a three-building Class A workplace property in Chicago. Transwestern Actual Property Companies negotiated on behalf of the brand new tenant, whereas the owner dealt with the deal in-house.

Tishman Speyer bought the almost 2.4 million-square-foot Class A property in 2007 as a part of a portfolio acquisition totaling $1.67 billion, CommercialEdge information reveals. Different tenants on the complicated embody CME Group, Wells Fargo, Apex Methods, Shorehill Capital, Chicago Institute of Funding and others, the identical information supplier reveals.

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Situated at 10 & 30 S. Wacker Drive, CME Heart is LEED Gold licensed and includes two 40-story workplace towers and a 10-story construction. The complicated contains 14,000 sq. toes of retail area, 46 passenger elevators and 600 parking spots. The amenity package deal incorporates a clubhouse, a convention room that may accommodate as much as 175 individuals, a common-area lounge, a health middle, bike storage companies and out of doors area, amongst others.

Located on an almost 2-acre lot inside Chicago’s Loop, near interstates 90 and 290, in addition to a number of subway and bus stations, the workplace campus is 2 miles from Magnificent Mile and 10 miles from Chicago Halfway Worldwide Airport.

Transwestern’s Government Vice President Kyle Robbins, Government Managing Director Andrew Davidson and Affiliate Dealer Nathan Miller represented the tenant, whereas Tishman Speyer Managing Director Adam Mitchell and Senior Affiliate Olivia Parker negotiated on behalf of the owner.

A better take a look at Chicago

The lease signing is consistent with the continuing flight-to-quality development that prevails inside the workplace sector. Earlier in February, Tishman Speyer inked two lease extensions at certainly one of its different properties in Chicago’s West Loop. Regulation Agency Katten Muchin Rosenman and insurance coverage firm Chubb dedicated to 525 W. Monroe St., a 900,000-square-foot workplace tower that’s at present present process a collection of main enhancements.

In response to a current CommercialEdge market replace, Chicago began off 2022 with one of many highest workplace emptiness charge amongst all gateway markets, reaching 19.4 % in January, adopted by San Francisco (18.8 %) and Manhattan (15.4 %). Throughout final 12 months, workplace leasing exercise continued at a gradual tempo within the metro.