CHICAGO-Hewitt Associates LLC, headquartered in Lincolnshire, has relocated within 311 S. Wacker Dr. The company signed a 10-year lease for almost 30,000 sf.

The building is owned by Fremont Realty Capital, real estate entrepreneur Mark Karasick and Shorenstein Properties LLC. The partnership acquired the 1.3-million-sf tower, which has 350,000 sf of office space, in 2006 for $292 million, a source says.

Dan Maslauski and Jack Keenan, both with Staubach Co., represented Hewitt Associates. Brian Whiting, senior vice president with JF McKinney, represented building ownership. The human resources outsourcing and consulting services firm relocated within the 65-story tower because they could not expand to contiguous space on the 21st floor, where they had been leasing 22,135 sf, says Maslauski. The firm relocated to the entire 14th floor with some space on the 15th floor. “They just were in the need of a complete upgrade of their space to more modern, open and efficient standards,” he says.

The tower is approximately 85% occupied, Whiting says. Major tenants include Duff & Phelps LLC, an investment banking firm, and Freeborn & Peters LLP, which is the largest tenant in the building with 124,000 sf, Whiting says. The asking lease rate for the building is between $18 per sf and $30 per sf, net.

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