Baker & McKenzie currently leases approximately 240,000 sf at One Prudential Plaza, 130 E. Randolph St. The firm's lease will expire in November 2012, Rogers says. The current lease rate was not disclosed. Asking rent for class A office buildings in the East Loop submarket is about $32.94 per sf, according to a Grubb & Ellis fourth quarter market report.
Both JLL and SCB will determine what Baker & McKenzie's space needs are and recommend whether the law firm should remain at One Prudential, lease space in a different existing building or lease space in a newly constructed building. The groups will evaluate how the law firm currently uses space and how other law firms are using space, Rogers says. "It is really just looking at the way they use space today, looking at the way some other law firms have relocated into brand new space and try to figure out what is the best solution for them," he says.
Rogers will lead a group including managing director Jeff Liljeberg, executive vice president Steve Steinmeyer and Mike Yazbec, vice president of the project and development services group. Beth Durkin, a principal at SCB, will lead a group consisting of project manager Russell Manthy, senior designer Chris Liu and designer Sheyla Conforte.
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