The Crain’s Lists Are Out – Largest Office Leases in Chicago Market

Crain’s Chicago Business just came out with its annual lists of the largest office lease transactions in Downtown Chicago and office lease transactions in the Chicago Suburbs.  Since my blog is still fairly young by internet measurement, I will be establishing this as my baseline against which we can compare future years.

Aside from fulfilling personal curiosity about commercial office market activity, for tenants in these areas, it’s also worth noting if anchor tenants have moved in or out of your building.  Understanding the dynamics of the tenant mix and vacancies in your building can help you when it is time to renegotiate – that’s why when I’m not out helping clients, I’m doing research that I can report on this blog and apply to ensure that I’m the best transaction advisor I can be for my clients.

Here are a few things worth noting from the lists:

  • Tishman Speyer Properties L.P. and the John Buck Co. are the two big winners downtown – each acquired two of the top ten office tenants this year.
  • AT&T Corporate Center* (227 W Monroe) was the best grossing building downtown and the only building to acquire two tenants in the top ten – Citigroup Inc. and Robert W. Baird and Co. – for over 360,000 SF.
  • In the suburbs, Colliers Bennett and Kahnweiler (CB&K) was the big winner on the leasing broker side, winning over 330,000 SF across the buildings that it represents for landlords.

*Building details provided by Emporis

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