Meanwhile, infrastructure manager Storage Technology Corp. has renewed a 19,230-sf deal at 10 S. Wacker Dr. Spike Trading Services, Inc. also is staying put at 30 S. Wacker Dr., where the division of New York-based electronic trading firm Pioneer Futures, Inc. has 14,000 sf. Another commodity futures and options firm, SMW Trading Co., renewed its deal for 9,400 sf at 30 S. Wacker Dr.

The deals are part of the largest US office REIT's focus on tenants leasing smaller space blocks. "These are significant customers to our overall business," says managing director of leasing C.J. Dempsey, who handled negotiations on all four deals for the REIT.

Although terms were not disclosed, asking net lease rates at the buildings is $19 per sf. While that is lower than the price of space of newer or proposed Wacker Drive office towers, Equity Office Properties SVP Arvid Povilaitis thinks the attraction started at the front door. A year-long renovation has added a new entrance at 20 S. Wacker Dr. for the exchange, which also has a 200-sf ticker at the lobby level.

"Our customers have been pleased with the renovation, which has greatly improved the pedestrian flow in the lobby," he says.

On the other side of the table of the table, Bill Rogers and Sean Kropke of CB Richard Ellis represented Hudson Highland Group, Ray Mazzocco of CB Richard Ellis handled negotiations for Storage Technology, Jason Schulz of The Levy Organization worked for Spike Trading Services and Lois Durkin of The Levy Organization represented SMW Trading.

Instant Insights /

Merc Exchange Complex Occupancy Trends Upward

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