AT&T Renews 171,400-SF Lease in Chicago

AT&T signed a long-term renewal for 171,386 square feet at 350 North Orleans Street in Chicago. The firm is the largest tenant in the building.Jones Lang LaSalle represented the tenant. CB Richard Ellis Inc. represented the owner, Mart Properties, a subsidiary of Vornado Realty Trust.AT&T had other available choices to consider before renewing at 350 North Orleans St., also known as the Apparel Center. “Working closely with AT&T’s Transaction and Asset Management groups, we evaluated other space in AT&T’s existing leased/owned portfolio as well as additional opportunities in the market,” George Kotrogiannis, senior vice president with Jones Lang LaSalle, said in a release. “But this building, in addition to location, offers the functionality and flexibility that a major tenant such as AT&T needs. We were also able to leverage AT&T’s credit and generate rent reduction.”