Hyatt to Move Into New Global HQ in 2017
- Dec 19, 2014
By Ioana Neamt, Associate Editor
Hyatt Hotels Corp., one of Fortune’s 100 Best Companies to Work For in 2014, has announced it will move its global headquarters to a 53-story office tower currently under construction in Chicago’s West Loop neighborhood. A Hyatt subsidiary has signed a lease on 250,000 square feet of office space at 150 N. Riverside Plaza, according to Crain’s Chicago Business.
The move to 150 N. Riverside Plaza will bring together 1,000 Hyatt employees currently based at two separate locations, the Hyatt Center at 71 S. Wacker Drive and 200 W. Monroe St. The company plans to move into the new offices by the end of 2017.
“By Bringing together all of our Chicago-based corporate colleagues under one roof, we will expand opportunities for our teams to collaborate with each other and continue to contribute to the thriving business community and hospitality industry here in Chicago,” Mark Hoplamazian, president and CEO, Hyatt Hotels Corp. said in a statement.
Developed by O’Donnell Investment Co. and designed by world renowned architectural firm Goettsch Partners, 150 N. Riverside is a Class A, LEED-CS Gold precertified tower that will comprise 1.2 million square feet of office space upon completion. Investment firm William Blair & CO. and private-equity firm Victory Park Capital Advisors have already signed leases for space in the tower, while law firm Polsinelli is also close to finalizing a deal, Crain’s Chicago Business reports.
Bounded by Lake and Randolph Streets and the Chicago River, the transit-oriented development at 150 N. Riverside Plaza will feature 1.2 million square feet of office space, a 6,500-square-foot fitness center, first-class restaurant venues, 1.5 acres of plaza and park space, 21 passenger elevators, and a 100 percent green roof.
The new office tower is located in immediate proximity to Union Station, Ogilvie Transportation Center, and all expressway systems, and provides over 2,700 public parking spaces within two blocks. 150 N. Riverside also incorporates a variety of green features, including high efficiency mechanical systems, a green roof, and the use of low-VOC, non-emitting materials.
Seattle-based Magnusson Klemencic Associates was selected as civil engineer for the project, while CBRE handles leasing operations.
“We are thrilled Hyatt continues to expand its presence in Chicago and capitalize on the city’s talent base and access to domestic and global markets,” says Jeff Malehorn, president and CEO of World Business Chicago, the city’s public-private economic development entity.
The Chicago Tribune recently ranked Hyatt among the Top 100 Workplaces in the city.
Renderings courtesy of 150northriverside.com
Click here for more market data on Chicago