GSA Leases 142,000 SF at Congress Center

CHICAGO-The US General Services Administration has signed a 142,000-square-foot lease renewal at the 520,000-square-foot Congress Center. The renewal also marks an expansion for the GSA, which currently leases 114,000 square feet and will take on an additional 28,000 square feet of new space beginning in mid-2010. A variety of federal agencies occupy the space GSA leases in the building, which is owned by Grubb & Ellis Realty Investors LLC.

“Grubb & Ellis Realty Investors is very pleased to have executed this lease, particularly in light of the formidable economic challenges confronting the national and Chicago real estate markets,” Kent Peters, EVP of Asset Management, says. “In the midst of a difficult leasing atmosphere, we have been able to further stabilize Congress Center and realize additional revenue on behalf of investors.”