Although terms of the long-term deal were not disclosed,published asking net lease rates for space on the upper floors ofthe building start at $18 per sf. The deal includes retrofittingthe space to accommodate technology needed for Bear Stearns'operations.
Bear Stearns hired CB Richard Ellis in September to helpconsolidate operations from what used to be five Downtownlocations. A CB Richard Ellis team of Todd Lippman, Gregg Witt andJim Whalen handled negotiations with Tom D'Arcy and Ted Minorini ofHines Interests.
In an unrelated Central Loop deal, Purcell & WardropeChartered has taken 11,418 sf at 10 S. LaSalle St. Kim Robare of CBRichard Ellis represented Madison LaSalle Partners LLC, owners ofthe building.
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