Steve Levitas, SVP with Colliers Bennett & Kahnweiler's Office Advisory Group, represented the firm, while Pat Philbin represented Hines in the lease. "(The company) is growing at a good clip," Levitas tells GlobeSt.com. "They've raised their second fund, and needed more space. They like the location here, the proximity to the trains and expressways, and the image of the building. "
Water Street's lease was extended by eight years, to run through 2016. The 867,821-square-foot building was constructed in 1983, and is now about 94% leased. Asking lease rates in the building range from $21 to $23, net, Levitas says. "It's a solid Class A building, with great, unobstructed views of the river," Levitas says.
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