Two Sign Leases at Chicago Trophy Tower

By Keith Loria

71 S. Wacker in Chicago

Irvine Co. Office Properties has signed Andersen Tax LLC and JAMS to leases representing a total of 45,000 square feet of space at 71 S. Wacker, a 48-story iconic trophy tower in downtown Chicago.

“JAMS has been a customer at 71 S. Wacker for over 10 years and Andersen Tax has chosen to relocate to 71 S. Wacker,” Beau Rawi, Irvine Co. Office Properties’ regional vice president of leasing, told Commercial Property Executive.

Andersen Tax, founding member of Andersen Global, took 26,000 square feet and will relocate from 222 W. Adams in May 2018. JAMS will expand its presence within the building by another 19,000 square feet.

The Irvine Co. acquired the 48-story building in 2010, for $625 million. Its elliptical design offers expansive views and houses prestigious customers in hospitality, legal, financial services and technology, including Goldman Sachs, IBM and the law firm of Mayer Brown LLP.

According to Rawi, 71 S. Wacker’s flexible, move-in ready suites and growth-ready spaces fit dynamic business needs.

“What you see is what you get—all of it, starting with a premier location, state-of-the-art amenities, attentive service and a workplace community that encourages balance and productivity,” he said. “It is LEED Platinum-certified and winner of the 2017 Outstanding Building of the Year Earth Award.”

Amenities at the building include Club71, a premier fitness center equipped with a cardio center, weight machines, group fitness classes and shower facilities, and three food and dining options.

“Irvine Co.’s strategy is to constantly study the needs of forward-thinking companies and transform their towers into modern, desirable workplace environments where customers can succeed and grow,” Rawi said.

The tower is a short walk from main transportation centers and just steps away from the Chicago Transit Authority “L” system and buses. There are more than 20 world-class restaurants a short walk or ride away.

“71 S. Wacker is located in the heart of the Chicago loop, near arts, culture, parks and transportation, bringing energy and balance to the workday,” Rawi said.

CBRE’s Todd Lippman and Jarrett Annenberg represented JAMS in its lease, while Cushman & Wakefield’s Steve Schneider represented Andersen Tax. JLL’s Brad Despot and Annie Nicolau represented The Irvine Co. in both deals.

Strong Chicago presence

The Irvine Co. also owns the nearby 60-story 300 N. LaSalle building, overlooking the Chicago River. Current tenants in the building include Kirkland & Ellis, Chicago’s biggest law firm, and management consulting firm Boston Consulting Group.

It also owns One North Wacker, known as the UBS Tower, which is situated in the heart of The Loop. Its iconic architecture, coupled with modern stainless steel and glass design, make it one of the city’s most prestigious downtown locations. Overall, the company’s Chicago portfolio includes 4.2 million square feet in three Class A+ office high-rise properties.

Earier this month, Hitachi Vantara leased a 222,500-square-foot building at Irvine Co.’s Santa Clara Square, a mixed-use destination in Santa Clara, Calif. Last September, Irvine Co. and Pei Cobb Freed & Partners worked together on the company’s 400 Spectrum Center, an office building in Irvine, Calif., located within the 1.2 million-square-foot live-work-play community Irvine Spectrum Center.

Image courtesy of Yardi Matrix