(To read more on the net lease market, click here.)
CHICAGO-Bryan Cave has doubled its space at 161 N. Clark St., giving the law firm 35,000 sf at the Central Loop building owned by Equity Office Properties Trust and TIAA-CREF. The law firm has an option for an additional 6,000 sf.
Starting with less than 10,000 sf two years ago, Bryan Cave doubled its space in July 2004. The firm has hired 26 lawyers from local competitors during the last two years, and has transferred five more from other Bryan Cave offices. It now has two full floors at the one-million-sf building, a block north of the Daley Center.
Although terms were not disclosed, asking net lease rates at the 13-year-old building are $18 per sf. Availability is about 8%.
Studley managing director Scott Kulberg, along with executive vice presidents Joe Learner and John Goodman represented Bryan Cave in negotiations with Equity Office Properties Trust's Jack O'Brien.
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