(To read more on the net lease market, click here.)
CHICAGO-Patzik Frank & Samotny is moving up six floors at 150 S. Wacker Dr., having renewed a lease at the West Loop building that increases the law firm's space by 37% to 16,288 sf. A tenant since 1993, Patzik Frank & Samotny will have the entire 15th floor in the building owned by MJH Wacker LLC.
While terms were not disclosed, asking net lease rates at the 537,084-sf, 32-story building is $17.25 per sf. Steinco Corporate Real Estate Advisors managing principal David O. Stein and vice president of finance Kevin J. McLennan represented Patzik Frank & Samotny in negotiations with Joe Alberts of Lincoln Property Co. The law firm will move into its new space in September.
MJH Wacker LLC has owned the building at Wacker Drive and Adams Street, known as Hartford Plaza, since 2002, when it paid nearly $53 million, according to property records.
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