Cushman & Wakefield Negotiates Chicago Lease for Publicis
- Apr 26, 2018
Cushman & Wakefield has facilitated a lease expansion and extension for Publicis at its Chicago Central Loop office. With the 50,000-square-foot addition, the company now occupies a total of 681,545 square feet at 35 W. Wacker. CBRE represented the property owner, UBS Realty Investors—a known buyer of green office buildings across the U.S.—in the deal.
Publicis is consolidating three other Chicago-area locations into its office at The Leo Burnett Building, which is now fully leased. The tenant roster includes law firm Winston & Strawn, RR Donnelley and Catch 35 restaurant, among others.
Ranking high in sustainability
The 1,118,148-square-foot, 50-story office tower was developed in 1989 by The John Buck Co. and designed by Roche Dinkeloo & Associates. It is LEED Gold-Certified and includes 25,000 square feet of retail space on the first floor. According to Yardi Matrix data, the asset became part of UBS’s portfolio in 2011 when Piedmont Office Realty Trust sold it for $401 million.
The property is connected to the adjacent Renaissance Hotel, City Hall, State of Illinois Building and the Daley Center through a weather-protected pedway. It is located within walking distance from the Magnificent Mile and offers immediate access to various public transportation options.
The team of brokers involved in the transaction included Executive Managing Directors Mike Christian and Steve Schneider from Cushman & Wakefield, as well as Executive Vice President Drew Nieman and First Vice President Christy Domin of CBRE.
Image courtesy of CBRE