CHICAGO—As reported in GlobeSt.com, the Alter Group has made up for the loss of Google, its anchor tenant at 20 W. Kinzie St. in River North, by signing a new lease with WeWork, a global operator of collaborative workspaces, for 105,000 square feet in the 17-story, 385,000 square-foot class A office building. And Alter's Rich Gatto tells GlobeSt.com that the new tenant will in some ways be an improvement over Google.
Having the internet search provider “gives the whole building a certain buzz in that everyone wants to see its space.” However, for understandable reasons, it has greater security concerns than the average tenant and as a result tends to be “very insular.”
By contrast, WeWork has a large membership base and does deals with a wide variety of office users. Gatto expects that a constant stream of visitors and new occupants will come into the space when WeWork occupies it in 2016. “If you have a 12-person audit team coming to Chicago for a few months, a WeWork space is the perfect solution.”
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
