Kamin represented the tenant. Andrea Saewitz, with J.F. McKinney & Associates, represented building owner Bentley Forbes. The tenant received both free rent and an improvement allowance. The firm had been leasing 22,323 sf on the top floor of 111 E. Wacker Dr. Marketing Werks decided to move to the 23rd and 24th floors of One Prudential Plaza because of the views of Millennium Park, Lake Michigan and Michigan Avenue, and amenities such as white tablecloth restaurants, workout facilities and conference facilities, Kamin says.
The firm is expected to move into the new space in May and is expected to eventually house 230 employees. Marketing Werks had about nine years left on its lease at 111 E. Wacker Dr., but was not able to expand contiguously in the building, he says. Auto parts dealer JC Whitney will be subleasing the space, Kamin says.
One Prudential is 94% leased. Major tenants include Integrys and Baker & McKenzie. The asking lease rate is $16 to $25 per sf, net, Kamin says. Bentley Forbes, based in Los Angeles, is planning on selling a majority stake of the two-building, 2.2-million-sf Prudential Plaza, as previously reported by GlobeSt.com.
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