CHICAGO—Valence Health just became the latestWest Loop firm to leave one of the older buildings in theneighborhood for space in a class A office tower nearby. Companyofficials say they will move their 385 Chicago-based employees from600 W. Jackson Blvd. to three floors and 125,000-square-feet in 540Madison St. by late 2014.

“After looking at a number of different spaces, Valence decidedthat 540 West Madison was an ideal fit for the company's diverserange of services, our employees needs and our customers'requirements,” said Phil Kamp, chief executiveofficer of Valence. “The modern work environment, unique space andunmatched amenities both inside and outside the building set 540West Madison apart and were ultimately what led Valence to make thechoice to relocate our burgeoning operation.”

A joint venture led by Joseph Mizrachi andDavid Werner bought the 1.1-million-square-foottower in late 2012 for $350 million, the highest price for anChicago office building that year. Since then, the partners havehad some success in attracting desirable tenants.Apartments.com, for example, also recently movedfrom 175 W. Jackson, another older building, and occupied40,033-square-feet at 540 W. Madison.