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CHICAGO-Adams Street Partners, LLC has leased 40,500 square feet at the recently-completed UBS Tower at 1 N. Wacker Dr. The firm is relocating from 209 S. LaSalle St.

Julien J. Studley, Inc. brokers say they leveraged current softer market conditions, even in the West Loop, to land a competitive lease deal as well as flexible expansion and contraction rights for Adams Street. Executive vice president John Goodman, executive vice president Rick Schuham and associate Michael Burns represented Adams Street Partners, former equity group for Brinson Partners, which is still minority-owned by UBS Warburg. Barbara Glazer of Lend Lease represented building ownership.

The 50-story, 1.7-million-sf UBS Tower was developed by a joint venture of TheJohn Buck Company and Lend Lease Real Estate Investments, Inc.

In an unrelated West Loop lease deal, Salvi, Schostok & Pritchard, P.C. renewed their lease on 2,500 sf at the 937,000-sf class-A 181 W. Madison. The law firm, specializing in personal injury cases, was represented by Equis Corp. vice president Steve Schneider and associate Marc Rubenstein. Gary Denenberg from M.B. Beitler represented Yasuda Bank & Trust, the building owner.

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