London-based SKG Equity Partners is financing the first locationof Sterling, which will provide temporary and shared workplaces inaddition to other services in the space. The term of the lease isnine years, Sevim says.


Sevim represented Sterling in the lease transaction. Thebuilding is expected to be complete this summer, with Sterlingmoving into the building in July, Sevim says. Sterling chose thebuilding because it will be a newly-constructed building, andbecause of the central downtown location


Sterling will provide "plug-n-play" services including offices,conference rooms, phones and the use of computers, Sevim says. Thecompany will also offer printing, graphics and concierge servicesand will have a spa on site, he says. Sterling plans to also haveoffices in New York City, Boston, Atlanta and San Francisco.


The 400,000-sf office tower, being constructed at 22 W.Washington, will be connected to 108 N. State St., the mixed-usedevelopment on the block commonly known as Block 37. The buildingis 81% pre-leased. The asking lease rate is $29.50 per sf.Morningstar Inc., based here, and CBS Channel 2 Chicago will be theanchor tenants in the building, which is being developed by a jointventure between Golub & Co. LLC, based here, and New YorkCity-based BlackRock Realty Advisors Inc., as previously reported

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