The 40-story, 845,000-sf tower is expected to open at Fourth and Madison this October. Representatives of the Houston-based Hines, say Bright Horizons Family Solutions Inc. has inked a deal for 10,382-sf, which includes an 8,130-sf childcare facility in the building and a play area on the seventh floor roof garden podium.
The childcare center, which opens in May 2003, will offer care weekdays to approximately 112 children, ages infant through five years from 7:00 a.m. to 6:00 p.m.
"Our mission is to develop innovative child care programs that help children, families, employers and developers like Hines work together to do their very best for all stakeholders involved," says Deborah S. Brown, vice president of Bright Horizons. "We are excited to see leading companies like Hines see the business value of blending work and family environments, especially in new development projects as significant as the IDX Tower."
Don MacLaren from OfficeLease, represented Bright Horizons in lease negotiations, and assistant project manager Ty Bennion represented Hines.
The IDX Tower at Fourth & Madison is currently 82% leased to tenants including: IDX Systems Corporation; Preston Gates & Ellis LLP; Deloitte & Touche; UBS PaineWebber; and Regal Financial Bank.
IDX Tower at Fourth & Madison is owned and financed by National Office Partners Limited Partnership. National Office Partners is a partnership of CalPERS and Hines, which was formed in 1998 and today owns a portfolio of office properties located throughout the United States valued at nearly $3 billion. CalPERS is the nation's largest public pension fund with assets totaling $150 billion, of which over $13 billion is invested in real estate.
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