"At a time when the competition for blue-chip tenants has never been more intense, we are pleased to retain William Blair & Company at Franklin Center well into the next decade," says Casey Wold, Tishman Speyer senior manageing director. "Our ongoing aim is to maintain and operate Franklin Center as a signature property, and we believe this transaction reflects our success in meeting that objective."
William Blair & Co. has been on the market for a new headquarters facility since March. According to earlier reports the company was originally planned to anchor a new downtown office to be developed by Hines at 444 W. Lake St. along the Chicago River, but the project fell through.
Tishman Speyer manages the property on behalf of a join venture, which includes Australia-based Tishman Speyer Office Fund. The deal, according to Tishman Speyer executives, is believed to be the largest lease transaction signed this year downtown.
Franklin Center is a West Loop complex that is composed of two connected buildings. The properties, 22 W. Adams St. and 227 W. Monroe St., total 2.5 million square feet of class A office space.
William Blair & Co. was represented by Jones Lang LaSalle's Steve Stratton, Robert Schmidt, Pamela Stamataky, Jack Keenan and Michael Tirpak. Tishman Speyer was represented by Vickie Noonan, Joe Gordon and Ellen May.
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