Riverside Inks 84 KSF at Chicago Trophy Tower

320 South Canal. Image courtesy of CommercialEdge

Riverside Investment & Development has signed an 83,848-square-foot lease at 320 South Canal, a 1.5 million-square-foot Class A office building in Chicago’s CBD. Molson Coors Beverage Co. will relocate its Americas headquarters to floors 34 through 36 of the 52-story tower, with move-in planned for the summer of 2024.

Cushman & Wakefield’s team of Executive Managing Directors Matt Gautreau, Dan Maslauski and Michael Sessa, together with Vice Chairman Nick Pavlakovich worked on behalf of the tenant. Riverside Executive Vice President Drew Nieman and Senior Vice President Christy Domin represented the landlord in-house.

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The property’s anchor tenant is BMO Harris Bank. Recently added tenants at the tower include Antares Capital, National Futures Association, Skadden Arps, along with law firms Faegre Drinker and Chapman & Cutler.

Designed by Goettsch Partners, the recently completed West Loop property includes 12,000 square feet of retail space, 29,000- to 32,000-square-foot floorplates and 324 covered parking spots, CommercialEdge data shows. Molson Coors’ future offices will allow for more employee engagement, collaboration and space for outdoor meetings. The firm will relocate from 250 S. Wacker Drive, also in the CBD.

Attracting today’s office users

The trophy tower comprises a fitness and wellness center, conference facility, pub, outdoor private patio, café and 1.5-acre outdoor park. The building received LEED Gold, WELL Platinum and WiredScore Platinum certifications.

The property sits on a 2-acre lot, close to Union Station and multiple bus and subway stations, as well as interstates 290 and 90. The tower is located 10 miles from Chicago Midway International Airport and 17 miles from O’Hare International Airport.

Recent high-profile deals in the area include insurance giant Chubb’s and law firm Katten Muchin Rosenman signing lease extensions at Tishman Speyer’s 525 W. Monroe St. The 900,000-square-foot Class A office building is currently undergoing a series of improvements.