"This is an exciting move for us because it signifies just how much Plante & Moran has grown since we launched in Chicago in 2004," Montague says. "Since we've been here, we've seen 25% to 30% growth annually. We had really outgrown our floor, we have about 100 employees now."
He says that the company's lease wasn't up until 2008, but that the company resigned to commit to 10 years in the space. He did not divulge the current lease rate, but average lease rates at the building are around $15 per sf. Plante and Moran's new suite, which encompasses 32,000 sf on two floors, is designed by Ford & Earl of Detroit, who also designed several of the firm's other locations throughout the Great Lakes region, including its headquarters in Southfield, MI.
Plante & Moran plans to move into the new Chicago space by the first week ofNovember. The company has a staff of more than 1,500 professionals in 18 officesthroughout Michigan, Ohio, Illinois, Nashville, Tennessee, and Shanghai, China.
Locally based Golub & Co. and Dublin-based Quinlan Private entered into a joint agreement in April 2005 to purchase the 28-story, 480,000-sf office tower at Washington and Franklin streets in the city's Central Loop. Though Golub president and CEO Michael Newman could not disclose the sale price, the building is valued at $86 million.
The building is home to several renowned law firms, hedge funds and serves as the Marmon Group headquarters. The building, built in 1987, offers 18,000-sf floorplates-- smaller than the 32,000-sf floorplates offered in the West Loop.
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