Workplace Management Products Firm Signs Large Lease at 71 South Wacker
iManage is moving from offices at 540 West Madison St. and will occupy its space at 71 South Wacker in early 2021.
CHICAGO— iManage, a global provider of work management product solutions, has signed an 85,000-square-foot lease at the 71 South Wacker office tower here.
The lease deal at the 48-story Downtown Chicago office building was reported by building owner Irvine Company. iManage is moving from offices at 540 West Madison St. and will occupy its space at 71 South Wacker in early 2021.
Frank Franzese, Steven Bauer and Aaron Schuster of Cushman & Wakefield represented iManage, while Brad Despot, Mark Georgas and Annie Nicolau of JLL represented Irvine Co. in the transaction.
“iManage is experiencing rapid growth and expansion, and we’re excited about our new location at 71 South Wacker,” said iManage CEO Neil Araujo. “Many professional corporations rely on us to deliver great client work, and our new work space will foster enhanced collaboration with partners and clients and among our teams internally. The property has virtually everything we need to provide outstanding services and recruit and retain top talent.”
iManage, which was founded in 1995 and merged with Interwoven in 2003 announced a management buyout of the company from HP in July 2015. Last September, the firm announced it had consolidated its UK offices into a newly designed, larger single location at 1 Phipp St. in London that will now function as the company’s EMEA (Europe, the Middle East and Africa) headquarters.
Irvine Company’s Chicago portfolio includes 4.2 million square feet in three Class A+ office high-rise properties. Irvine Company entered the Chicago market in 2010, when it acquired the 1.5-million-square-foot 71 South Wacker. The tower’s tenants include firms engaged in hospitality, legal, financial services and technology, including IBM and the law firm of Mayer Brown LLP.
In 2014, Irvine Co. acquired the 60-story 300 North LaSalle overlooking the Chicago River. The firm also owns One North Wacker, UBS Tower, located in The Loop.