Rotary Center 90% Leased With Pivotal Deal

EVANSTON-One Rotary Center is 90% leased now that Pivot Point International has cut a 42,442-sf deal that will move its headquarters from just across the boundary at 1791 W. Howard St. in Chicago. The hair and beauty school makes the move in March to the 18-story, 368,000-sf building owned by Rotary International.

Although terms of the long-term deal were not disclosed, owner representative Cushman & Wakefield is offering space at 1560 Sherman Ave. starting at $28.50 per sf, which would make the deal worth $1.2 million a year on a gross basis.

The building is in an area seeing significant redevelopment, including the $100-million mixed-use Sherman Plaza project about a block away.

Thomas A. Bosshart, a vice president with Norwood-O’Hare Realty Group, Inc., represented family-owned Pivot Point, which operates cosmetology research centers and schools worldwide. Cushman & Wakefield senior director Howard R. Perino handled negotiations for Rotary International.

“(Pivot Point) was particularly impressed with the city’s successful on-going revitalization program as well as its easy access to downtown Chicago via public and private transportation,” Perino says in a statement.