GATX Moves to Chicago’s Willis Tower
- Jul 28, 2017
Rail car leasing firm GATX decided to trade Chicago’s Franklin for Willis Tower. The company signed a 90,000-square-foot lease at the iconic 110-story skyscraper, well in advance of its lease expiration at 222 W. Adams St. NKF’s Vice Chairman Melissa Copley negotiated the lease terms on behalf of GATX.
A new office in a revamped tower
GATX chose the former Sears Tower due to the perspective of working in a newly renovated place. At the beginning of the year, Equity Office, which is currently managing the tower, announced that the high-rise is slated for a $500 million investment which would completely transform the 3.8 million-square-foot building. The Willis Tower renovations will include:
- reconfiguring 150,000 square feet of existing space to bring a full-service fitness center, tenant lounges, cafes and dedicated private event areas to the tower;
- adding more than 300,000 square feet of new retail, dining and entertainment space;
- renovating the outdoor deck and garden space.
GATX will join a recent wave of tenants which Equity Office has attracted to Willis Tower since the beginning of the year, among them being the National Restaurant Association, Convene and ESD.
A team of brokers from Telos Group made up of Vice Presidents Joy Jordan and Jamey Dix and Leasing Director Maggie Brophy represented the property’s owner, Blackstone, in the lease transaction.
Image courtesy of Yardi Matrix