Law Firm Signs 100K Lease at 110 North Wacker Drive
With the latest transaction, the 55-story 1.53-million-square-foot office tower being developed by the Howard Hughes Corp. and Riverside Investment and Development is now nearly 60% leased.
CHICAGO—International law firm Perkins Coie has signed a multi-year lease for 100,000 square feet of space at the 110 North Wacker Drive office tower in Downtown Chicago that is currently under construction.
With the latest transaction, the 55-story 1.53-million-square-foot office tower being developed by the Howard Hughes Corp. and Riverside Investment and Development is now nearly 60% leased. The deal with Perkins Coie marks the third lease deal announced at the property in the last two months.
Perkins Coie’s offices in Chicago are currently housed at 131 South Dearborn St. The law firm will occupy three-and-a-half floors of the West Loop building beginning in late 2021.
Perkins Coie entered the Chicago market in 2002 with three lawyers and has since grown to 110 lawyers and 110 professional staff.
“Since entering the market nearly 20 years ago, our Chicago office has experienced a tremendous amount of momentum and success,” says Rick Sevcik, managing partner of the Chicago office. “Our move to 110 North Wacker embodies our continued commitment and investment in the region as we position ourselves to meet the demands of our growing and modern workforce in Chicago with a new first-class, state-of-the-art office.”
The building when completed in the fourth quarter of 2020 will be Chicago’s tallest commercial building built in three decades. Todd Lippman, Kyle Kamin and Steve Bay of CBRE represented Perkins Coie on the deal, while Drew Nieman of Riverside Investment and Development and Sara Spicklemire of CBRE represented the developers of the building.
“The sustained level of tenant interest and speed of leasing at 110 North Wacker is about as good as it gets,” says Riverside’s Nieman. “We are seeing tenants expedite their search specifically to come after 110 North Wacker.”
“It is with great pleasure that we welcome Perkins Coie as the newest tenant to join our premier office building in Chicago,” says Paul Layne, president of the Central Region for The Howard Hughes Corporation. “Named for 17 years among Fortune’s 100 Best Companies to Work For, Perkins Coie will have a highly appealing, amenity-rich setting at a prominent riverfront location on Wacker Drive for its new Chicago office.”
Bank of America signed on as the anchor tenant of the building committing to approximately 530,000 square feet of office space in 2017.