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UBS Tower Recommits Two Tenants for 62,000 SF

CHICAGO-Adams Street Partners LLC and L.E.K. Consulting have recently signed leases, totaling 62,638 sf, to remain at USB Tower.

By Gina Kenny | Updated on March 02, 2007

CHICAGO-Two businesses have recently signed leases totaling 62,638 sf to remain at UBS Tower, 1 N. Wacker Dr. Adams Street Partners LLC, a private equity firm, is expanding its space at the tower, while consulting firm L.E.K. Consulting has renewed its lease at the building.

Adams Street Partners is expanding from 40,500 sf to 47,504 sf. The Adams lease has been extended until 2014, says Tiffany Winne, managing director at Studley. L.E.K. Consulting has extended its lease for 15,134 sf until 2014. Both have been tenants since the building was constructed in 2001.

The lease rates were not disclosed, but Winne said that the asking rate for office sf in the area is between $28 per sf and $32 per sf. Incentives for both firms included rent abatement and tenant improvement allowances.

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