Real estate investment firm Heitman has inked a lease for 60,000 square feet (5,600 square meters) at Riverside Investment & Development and Howard Hughes’ under-construction 110 North Wacker skyscraper in Chicago’s Loop neighborhood.
Heitman will relocate its headquarters to the 56-story, 164,000-square-meter tower, where it will occupy two floors. It is expected to open in fall 2020 and the firm plans to move into the building in late 2022.
With the latest lease, the 110 North Wacker is now 75 percent leased ahead of its opening, and Howard Hughes is trying to sell its stake in the US$722 million project.
Heitman occupies a similar amount of space in the 37-story tower at 191 North Wacker Drive, a block away. That building is also losing its biggest tenant, the law firm Faegre Drinker, which announced in February 2020 that it would move to the under-construction BMO Tower, which is planned to open in 2022 next to Union Station.
The developers of the BMO Tower have drawn many of its tenants from other neighboring properties, including its anchor tenant, Bank of America, and law firms like Jones Day, Morgan Lewis & Bockius, Perkins Coie, and King & Spalding.
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