While lease terms were not disclosed, but the advertised net lease rates are $30 per sf to $34 per sf, which would make the two deals worth more than $3 million a year combined. The deals bring occupancy at the AT&T Corporate Center/USG Building to 99.5%. Vacancy in the West Loop submarket has soared to $15.3%, according to Cushman & Wakefield research.
The building, which won the Top Tower Award from the Wall Street Journal and the FIABCI's Prix d'Excellence award in 1998, is managed by Chicago-based Tower Realty Management Corp. Gregg Witt and Todd Lippman of Insignia/ESG represented JPMorgan Chase Bank in its 86,000-sf lease deal.
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