WeWork, CA Ventures to Anchor River North Office Building

CHICAGO—As workers began to turn the first dirt on the 448 N. LaSalle office building here, the developer CA Ventures announced on Tuesday that the property is already 75% leased.

Anchoring the property will be WeWork and locally-based CA Ventures, which combined will occupy in excess of 120,000 square feet at the more than 172,000-square-foot, 12-story building.

WeWork has leased approximately 63,000 square feet, while CA Ventures will occupy about 60,000 square feet at the property, according to a report in Crain’s Chicago Business.

Both firms will take occupancy at the building in early 2021 upon completion of construction and both companies expect to take advantage of exterior signage at the building.

CA Ventures will occupy the lower five floors and WeWork will lease four floors of the 12-story building. JLL will market the remaining three floors (45,000 square feet) of office space.

JLL’s team of EVP Chris Cassata and SVP Craig Coupe will lease the property on behalf of the developer. Amenities at the property will include a rooftop deck, lounge, fitness center and bike room.

“CA Ventures has offices across the globe, but the talent pool in Chicago, excellent transportation options in River North, and ease of access to so many markets via O’Hare made staying in Chicago and relocating our headquarters to 448 North LaSalle an obvious choice,” says CA Venture’s global head of investments and principal John Diedrich.

CA Ventures and Midwest Property Group announced on Tuesday that construction had commenced on the project.

Lamar Johnson Collaborative is the architect behind 448 North LaSalle and Lendlease served as the general contractor. Indure Build-to-Core Fund, LLC was the lender for the project.