CHICAGO—Heidrick & Struggles has decided to sign a long-term lease for 54,000-square-feet on the 49th floor in the Willis Tower, according to officials from DTZ, which represented the executive search firm in its negotiations. The company currently occupies space on 42nd and 70th floors, and the new lease will allow it to make operations at its global headquarters far more efficient.
The move reinforces a recent trend in the West Loop. Tenants seeking large floor plates in a class A high-rise, especially above the 30th floor, have found that there are not a ton of options. As a result, many have decided to stay in place and sign long-term leases.
“The DTZ team performed an exhaustive review of the downtown Chicago marketplace," says DTZ executive vice president and managing director Christopher Wood. "After a deep study of the Willis Tower and the many relocation options, we executed a strategy that secured the best economic and physical long term facility solution for Heidrick & Struggles.”
Wood and executive vice president Scott Goldman of DTZ's Chicago office led the negotiations, along with senior vice president Dan Fisk and vice president Adam McCostlin. DTZ senior vice president Mike Merritt also provides project management and other services to Heidrick & Struggles.
Their new office will allow Heidrick & Struggles facilitate a more open and collaborative work environment with more areas for meeting spaces and a higher level of daily integration between the company's corporate functions and consultant practice groups.
Derek Rolison and Mike Kaz of US Equities Realty represented building ownership.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
