CHICAGO—The Blackstone Group has selected the Telos Group and CBRE to reposition the office, retail and entertainment space at Chicago's iconic Willis Tower. The company closed the acquisition on June 5, and intends to begin repositioning the property immediately. Douglas Harmon of Eastdil Secured was the exclusive representative on the transaction.
Equity Office, an affiliate of Blackstone, will act as property manager for the 4.5 million square feet of space, including the Skydeck. Chicago-based Telos will reposition and lease the 3.8 million square feet of office space, and CBRE will lease the retail and entertainment complex.
Blackstone plans to significantly expand the building's retail and entertainment offerings and remake its office environment. The company wants to provide enhanced lifestyle amenities that will appeal to the city's changing workforce.
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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.
