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CHICAGO-The Regus Group has expanded its presence here with the opening of its 28th location in the city at 321 N. Clark St. The workplace solutions firm has leased 25,000 square feet on the fifth floor of the 900,000-square-foot office building, which will house 93 office, a board room and two conference rooms. Its space in the 35-story building owned and managed by Hines marks the 999th center the firm operates worldwide, and joins another recently opened location in St. Charles earlier this year.

“We’re continuing to experience strong demand for our cost-effective workplace solutions – even in the tough environment in which we’re operating,” Jeff Doughman, Regus central region VP, says. “Given the economic uncertainty, we’re finding that our clients are looking for flexibility and avoiding committing to long-term, risky office space leases. Our clients have long been requesting a center in the River North area so we’re pleased to open our first location here.”

Designed by Skidmore, Owings & Merrill and completed in 1987, the property is located along the Chicago River in the River North neighborhood. Major tenants include American Bar Association, Foley & Lardner, Mesirow Financial, and Howrey, Simon Arnold & White.

“Our new River North center is perfect for companies of all sizes including those nearby home-based businesses needing a more professional environment in which to work; law firms with its close proximity to the courthouse; or enterprise-level organizations that are seeking to set up satellite offices downtown,” Doughman says.

Hines REIT paid $247.3 million for the building, formerly known as Quaker Tower, in April 2006, buying it from New York State Teachers Retirement System, advised by JPMorgan Chase as well as Houston-based Hines. The joint venture previously bought the building for $133.3 million in 2001.

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