The REIT renovated the property in 1999. Since then, the building has enjoyed occupancy of at least 95%, while the vacancy rate across Downtown has climbed into double digits.
While terms were not revealed, published net lease rates at the property are in the $14 per sf to $17 per sf range.
Trizec Properties director of leasing Jon Blunk handled negotiations for his company while Renee Betzelos and Kurt Walsh of ProTen Realty Group represented Harris Associates.
In unrelated lease deals, Pappas Jacoby & Marcus is relocating from 225 W. Wacker Dr. to 30 W. Monroe St., where it is taking 9,000 sf. Another law firm, Stamos & Trucco, took 7,530 sf. Syracuse, NY-based engineering consulting firm Blasland, Bouck & Lee, Inc. took 2,633 sf.
Published gross lease rates at St. Paul Properties, Inc.'s property start at $27.50 per sf.
NAI Hiffman VP Ted Holman and associate director of leasing Kerissa Markiewicz represented St. Paul Properties, Inc. in the deals.MB Real Estate SVP Jay Beadle represented Pappas Jacoby & Marcus. Colliers Bennett & Kahnweiler, Inc. SVP Dan Arends represented Stamos & Trucco. William W. Cowin of Glen Ellyn-based Real Estate Consultants, Inc. represented Blasland, Bouck & Lee, Inc.
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