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Baker & McKenzie May Leave One Prudential

CHICAGO-The law firm hires Jones Lang LaSalle and Solomon Cordwell Buenz to help determine what to do when its 240,000-sf lease expires at One Prudential Plaza.

By Gina Kenny | Updated on February 22, 2007

CHICAGO-Baker & McKenzie LLP has hired Jones Lang LaSalle and architectural firm Solomon Cordwell Buenz to draft an office strategic plan. JLL and SCB began work on the plan earlier this month and plan to have it completed by the end of the year, which would give the law firm more than four years to search for new space if needed, says Bill Rogers, managing director for JLL. The cost for preparing the plan was not disclosed.

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.

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