The CME has had its headquarters in the building since 1983, andits current lease was set to expire in November 2008, according toa released statement from the CME and Tishman Speyer. Holly Duranand Rich Schulz, both with Holly Duran Real Estate Partners LLC,was CME Group's real estate adviser. Jim Rosenbloom and Gary Ruben,both with the law firm Goldberg Kohn, represented CME Group. Alease rate was not disclosed. The asking rent for class A buildingsin the West Loop submarket is $37 per sf, according to Grubb &Ellis' second quarter market report.

The CME Trust also sold the trading floors to Tishman Speyer.The two floors that each measure reportedly about 35,000 sf weresold for a reported $16 million. The CME Group will continue tooccupy the trading floors until it unifies its trading floors at141 W. Jackson in the second-quarter of 2008, according to thereleased statement. The lower floor will be renovated into officespace for CME group. Fujikawa Johnson Gobel Architects will be thearchitect and was the original architect for the CME Center in theearly 1980's. OWP/P will provide space planning and interiorarchitectural services.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.