The company was represented in the deal by Sven Sykes, director,SVP, and Tom Volini, SVP, both with Grubb & Ellis' TenantAdvisory Group. "Navteq is truly a Chicago success story, andfinding space that not only met its technological requirements butthat could also support its growth was crucial," Sykes said. "We'reproud to be involved with their growth."


In 2007, the company relocated its headquarters from theMerchandise Mart to the plaza, beginning with 227,000 square feetin the building. Previously this year, Navteq grabbed up another44,000 square feet, and grew by more than 22,000 square feet morein the most recent expansion. Grubb & Ellis said the space is agood fit for the company because it was once occupied by SBCCommunications, and came already equipped with substantialtechnological and operational infrastructure.


This new lease brings the 770,300-square-foot, 36-story tower,built in 1990, to nearly 100% leased. About 3,500 square feetremains available on the building's 16th floor, according to thetower's Web site. Asking lease rates for office in the West Loopsubmarket are around $38 per square foot, gross, according toCushman & Wakefield market reports.

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