John Clark of Jones Lang LaSalle represented building owner Alliance Commercial Partners, while VP Craig Cassell of Grubb & Ellis' Office Group represented FMS in the deal, which will offer the firm additional space for training, accounting, human resources and other corporate functions.
"This is their headquarters and the company started there in 2000 with 1,000 square feet," Cassell tells GlobeSt.com. "They have grown exponentially in this location and it's important to them to keep their executives part of their core business in Chicago so that's what they're going to do. This is where they're going to have some of their training areas so it was important to keep those training areas next to where the executives and that part of their business were going to be."
Asking lease rates in the building are around $23 per square foot gross, but Cassell says FMS got a below market lease rate. The firm got tenant improvement dollars from the landlord as part of the lease.
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