Real Estate News

Chicago's 161 North Clark Office Tower Signs Over 300,000 Square Feet of Leases

Tishman Speyer recently announced the completion of multiple office lease transactions totaling over 300,000 square feet at 161 North Clark.

Bryan Cave LLP renewed 62,727 square feet.  An AmLaw100 law firm with global reach, Bryan Cave has maintained its Chicago offices at 161 North Clark since 2006.  Bill Rogers, Steve Steinmeyer and Bill Sheehy of Jones Lang LaSalle represented the tenant in the lease transaction.  Joe Gordon and Jon Cordell represented building ownership.

Subtenant General Electric Railcar Services Corporation signed to become a direct tenant, with a new lease for 61,326 square feet.  The company provides a wide variety of railcars, intermodal equipment, customized financial products and solutions for transporting a broad range of products across a spectrum of industries.   Jeffrey Samaras of Cushman & Wakefield of Illinois, Inc. represented the tenant while Joe Gordon and Jon Cordell represented building ownership.

Tishman Speyer also reported that a long-time tenant renewed 164,103 square feet of space.  Building ownership was represented by Joe Gordon and Jon Cordell of Tishman Speyer.

Two other renewals were executed at the property as well.  Law firm Anesi, Osmon, Rodin, Novak & Kohen, LTD, represented by Joe Learner of Studley, signed for 13,746 square feet.  Phoenix Bond & Indemnity Company, represented by Matthew Alexander and Adam McCostlin of UGL Services, inked a 3,152 square feet renewal.

161 North Clark is a 50-story, 1.1-million-square-foot Class A office tower located in Chicago's central loop next to the Daley Center, Thompson Center and City Hall.  Home to a mix of prominent financial services, legal and insurance companies, the building's amenities include abundant parking, an on-site fitness center, a conference center and access to underground pedestrian walkways to other buildings.  It is conveniently located next to the city's theater district, prominent restaurants, hotels and public transportation.

"We're very pleased that 161 North Clark continues to attract high quality new tenants, and that we are able to retain such tenants for the long term as well," said Tishman Speyer Senior Managing Director Casey R. Wold.  "These transactions involve premier firms within their respective industry sectors.  We are looking forward to serving their office space needs for years to come."

Tishman Speyer is one of the largest developers, owners and operators of commercial real estate properties worldwide. Since its founding in 1978, the firm has acquired, developed and/ or managed a portfolio of over 116 million sq. ft. valued at over USD $50.2 billion.  Signature assets include New York's Rockefeller Center and the Chrysler Center, Frankfurt's MesseTurm and Opernturm, Sao Paulo's Torre Norte, and Ventura Corporate Towers in Rio de Janeiro.  Tishman Speyer has projects in different stages of development in Shanghai, Chengdu and Tianjin.

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