David Gelfand, executive managing director with Studley, represented Harris & Harris in the sublease transaction. Lisa Konieczka, EVP with CB Richard Ellis, represented Bankers Life and Casualty Co. in the transaction. Company representatives were not available for comment. Merchandise Mart Properties Inc., a subsidiary of Vornado Realty Trust, is the owner of the building.
Harris & Harris is relocating from 600 W. Jackson, where the firm currently occupies approximately 21,000 sf. The 250-person firm will be able to lease space on a single floor at the nearly 3.5-million-sf Merchandise Mart, which was not an option at the current location, according to a statement from Studley on the sublease. "We negotiated a long-term sublease that includes a substantial capital contribution for renovations, attractive rent abatement, and future expansion space at a below-market rental structure," Gelfand said in the statement. The firm is expected to move into its new space by December.
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