Search
 

Wm. Blair Signs 340,000-SF Lease for Tower

CHICAGO-The investment firm signs a lease for more than 340,000 sf in the 52-story tower, which will have 1.1 million sf.

By Gina Kenny | Updated on March 21, 2008

CHICAGO-William Blair & Co., a Chicago investment firm, has signed a lease to be the anchor tenant of a planned 1.1-million-sf office tower at 200 N. Riverside Plaza, called River Point. The tower is being developed by a joint venture between Hines, headquartered in Houston, and Chicago food service entrepreneur Larry Levy. The estimated cost for the project is close to $500 million, says Greg Van Schaack, SVP at Hines regional office here.

William Blair, which has been located at 222 W. Adams St., since 1994, had signed a letter of intent late last summer to be the anchor tenant in the building, as previously reported by GlobeSt.com. The firm will occupy three-and-a-half floors of the low-rise portion of the 52-story building and 10 high-rise floors, Van Schaack says. The term of the “long-term” lease was not disclosed. Hines is in discussions with other possible tenants but no other leases have been signed at this point. “We are talking to a number of other big tenants,” he says. The asking lease rate is about $50 per sf gross, Van Schaack confirms.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.