"One of the reasons we chose 175 W. Jackson was that it allowed us to consolidate a large amount of square footage on one floor," says William C. Floersch, president and chief executive officer of O'Connor & Company. "The building also provides the latest in high-technology infrastructure."
O'Connor & Company, which was represented by Insignia/ESG, staked out the entire fourth floor in a 15-year lease. Leasing director Menahem Deitcher represented the 89-year-old building's ownership.
Although terms of the deal were not disclosed, CBD net rental rates range from $18 per sf to $30 per sf, according to U.S. Equities Realty's third-quarter office report. That would make the deal worth between $18.3 million to $30.6 million.
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