Tegus Leases 14,195 SF in Slate's 120 S. LaSalle

CHICAGO—Tegus, a research platform for institutional investors, has inked a 14,195-square-foot lease at 120 S. LaSalle St. Terms of the deal were not disclosed.

“The new office provides a conducive space for employees to collaborate, with an open floor plan, breakout areas and kitchen in the heart of the space,” said Tegus Co-Founder Michael Elnick. “The space allows us to continue to attract some of the top talent in Chicago and aligns well with our future growth plans.”

Tegus will move its 45 employees into the new, high-end technology space at the beginning of April. The lease will allow the company to expand to 100 employees.

The owner of the 658,784-square-foot 120 S. LaSalle St., Slate Office REIT, plans to upgrade the facility to include a roof top lounge and fitness center.

“Employers want to provide their employees with a ‘cool’ work atmosphere, and today that includes modern, individual workspaces in well-amenitized buildings,” Karmin said.

The upgrades to the building are part of Slate’s plan to invest in amenities in order to attract more tenants. The real estate investment trust purchased the 23-story building and an adjacent garage last year for $156 million, according to reports. At the time the building’s vacancy rate was higher than the average Class A space in the CBD.

“We have been actively investing in the building in order to offer the exceptional amenities today’s tenants are seeking,” said Steve Hodgson, managing director for Slate. “Chicago is a key market for us and as such as we are committed to growing our portfolio here and making investments for the long-term.”

Jones Lang Lasalle’s Mason Taylor represented Slate in the deal.