"The savvy tenants who are well represented see that the Sears Tower has a lot to offer and is more than just a business address; it's a business asset," a spokesman for the tower tells GlobeSt.com. "The tower can help businesses recruit employees. When you have an office just steps from Union Station, it's unbeatable for employees, whether they're coming in from the suburbs or from other parts of the city."
Lisa Davidson, executive managing director, and Marc Brash, analyst, Studley, represented Kopon Airdo in the lease. Frank Franzese, EVP with Cushman & Wakefield, represented Centiv in the transaction. Centiv was previously based out of 525 W. Monroe, while this will be Kopon Airdo's first office.
"We chose the Sears Tower for our new law offices based on its wide variety of business resources and amenities from a state-of-the-art conference center to a choice of restaurants to a modern, full-service health club," said Andrew Kopon Jr., a partner with Kopon.
The 3.8-million-sf Sears Tower is owned by 233 S. Wacker LLC, which includes American Landmark Properties, the Chetrit Group and the Moinian Group. Asking lease rates in the tower range from the mid-teens to the mid-20's. The building is now around 81% occupied and has signed nearly 600,000 sf in new and renewed leases in the past two months. "We're seeing a lot of progress, but with a building of this size, it takes a lot of square feet to make a dent in the (occupancy rate) percentages," the spokesman says.
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