Fitch Group and 4 Others Coming to Chicago Trophy Tower

March 8, 2019

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Irvine Co. closed five leases totaling 104,000 square feet at One North Wacker in The Loop and is getting ready to welcome Fitch Group, Wipfli, The Jordan Co., May River Capital and Heard Capital.

One North Wacker

Irvine Co., the owner of the 50-story One North Wacker office tower in Chicago’s The Loop, has added five new tenants on the property’s roster. The deals totaled approximately 104,000 square feet, with Fitch Group, a financial information services firm, leasing the largest space—65,392 square feet. Fitch plans to move its employees from its current location at 70 W. Madison St. to the new office in 2020.

The other four companies which will be moving to One North Wacker are:

accounting and consulting firm Wipfli, which leased 21,000 square feet
private equity firm The Jordan Co., which leased 8,653 square feet
private equity investment firm May River Capital, which leased 4,985 square feet
asset management firm Heard Capital, which leased 3,277 square feet

The brokers involved in the deals were: Eric Kinkel of JLL (Fitch Group), Gary Fazzio and Bill Sheehy of CBRE (Wipfli), Christine Bower and Brian Means of JLL (The Jordan Co.), David Knight of Advocate (May River Capital), Larry Serota of Transwestern (Heard Capital) and Brad Despot, Annie Nicolau and Mark Georgas of JLL (Irvine Co.).

A LEED platinum tower

The UBS tower encompasses approximately 1.4 million square feet of which 12,300 are for retail use, according to Yardi Matrix. The property was completed in 2001 and has recently become LEED certified to the Platinum level. Among the amenities being offered at the site are a café, a 9,000-square-foot conference center, fitness center and convenience stores. A number of well-known companies signed the building’s tenant roster including Barnes & Thornburg, Sedgwick, Berkshire Hathaway and Castle Ark.

Irvine Co. bought the asset from Hines in 2015 for $470.6 million with Hines continuing to manage the building. Irvine’s Chicago portfolio comprises 4.2 million square feet in three Class A office towers: One North Wacker, 300 North LaSalle and 71 South Wacker. All assets have very high occupancy rates.

Image courtesy of Yardi Matrix