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PPM Expands to 75,000 SF at 225 W. Wacker

CHICAGO-The investment advisory company is renewing its lease in the West Loop building, adding an additional 10,000 sf and moving into contiguous space.

By Cari Brokamp | Updated on September 12, 2008

CHICAGO-PPM America has renewed its lease at 225 W. Wacker, expanding its space in the West Loop building by 10,000 sf for a total of 75,114 sf. The company has been in the 644,387-sf building since 1994, and will remain there for another 12 years under the new lease. The tenant will relocate its operations from part of the ninth floor to the occupy the entire 10th floor, where it will be contiguous to the company’s existing space on the 11th and 12th floors.

Andrew Davidson, EVP and managing director, and Jay Beadle, SVP with MB Real Estate’s Corporate Services group, represented PPM. Mark Gunderson and Monica Moore, both with Jones Lang LaSalle, represented building owner JP Morgan in the transaction. The tenantwill have the option to take on additional space in the building in the future.

“PPM has a good story,” Davidson says. “They’ve grown from 16,000 sf to 75,000 sf. They’re the internal money management arm of Prudential Insurance of London, and they’ve gotten much larger in terms of the amount of money they’re managing.”

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