Occupancy at the 22-story Burnham Center, across the street from City Hall and County Building, is 94%. Published gross lease rates at the class-B building range from $23 per sf to $25 per sf. That would cost OWP/P's savings under the restructuring in the neighborhood of $4 million.
Managing principals Steve Stratton and Jock Howland, as well as principal Dan Stanciu represented OWP/P, beginning with presenting the firm with 39 alternatives to a new lease. Tom Grace from Cushman & Wakefield of Illinois and Bob Six of Zeller Corp. represented the ownership group of the 610,577-sf Burnham Center.
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