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Regus Group Renews 90,000 SF in Three Towers

CHICAGO-Regus Group has renewed leases in 70 W. Madison St., 200 S. Wacker Dr. and 980 N. Michigan Ave.

By Gina Kenny | Updated on December 11, 2007

CHICAGO-Regus Group, based in Dallas, has renewed three long-term leases in the Central Business District for a total of approximately 90,000 sf. The company, which provides fully furnished offices and meeting rooms, renewed at 70 W. Madison St., 200 S. Wacker Dr. and 980 N. Michigan Ave.

Cal Wessman and Connor Kerr, both with CB Richard Ellis, represented Regus. Regus leases 23,361 sf on the 14th floor at the 1.4-million-sf building at 70 W. Madison St. Building owner Hines was represented in house by Theodore Minorini. The building is 95% leased with major tenants including the law firms Bell, Boyd & Lloyd LLP and Ungaretti & Harris LLP, says Kerr, senior associate with CB Richard Ellis. The asking lease rate for the building is between $16 per sf and $18 per sf net, he says.

Regus leases 44,740 sf on the 31st floor and 32nd floor at the 750,000-sf building at 200 S. Wacker Dr. Barbara Schenberg and Bill Rolander, both with the John Buck Co., represented building owner Behringer Harvard in the lease renewal. Behringer Harvard acquired the 40-story building as part of a four-building portfolio purchased from Boston-based Beacon Capital Partners for $832.5 million, as previously reported by GlobeSt.com. The building is about 85% leased with major tenants including Ziegler Securities, Kerr says. The asking lease rate is between $20 per sf and $22 per sf net, he says.

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