In an unrelated Downtown office deal, Credit Agricole Alternative Investment Products Group signed a 9,500-sf deal at 1 N. Wacker Dr., which means a relocation from 55 E. Monroe St.

While terms were not disclosed, published net lease rates at 401 N. Michigan Ave. begin at $17 per sf. Net lease rates start at $20 per sf at UBS Tower, where Credit Agricole Alternative Investment Products Group signed a 10-year deal.

Jupiter Realty takes a full floor at the 737,308-sf Equitable Building, acquired two years ago by Zeller Realty Corp. for $120 million. While the Palmolive Building has been designated a Chicago landmark and is listed on the National Register of Historic Places, the building formerly owned by Equitable Life Assurance Society is on the site of Chicago's first settler's cabin.

President Howard L. Ecker and SVP Ira J. Perlman of Jupiter Realty Services LLC, an affiliate of the development company, handled negotiations with Zeller Realty SVP of marketing and leasing Robert M. Six and leasing director Ari Glass.

MB Real Estate senior vice presidents Andrew Davidson and Jay Beadle represented CA-AIPG in negotiations with Barb Schenberg Glazer of the John Buck Co.

"Economics were important, but the client was looking for a class A space that met all of their needs, and only a few of the buildings in the marketplace met their criteria," Davidson says. "Fortunately, there was space on the 40th floor of One N. Wacker that could accommodate their requirements, and this is where Credit Agricole chose to go."

Instant Insights /

Jupiter Remains Aligned on Michigan Avenue

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