CHICAGO—Union Investment Real EstateGmbH, the owner of 111 South Wacker, has just completedtwo new lease transactions that will fill about 75% of the spaceleft vacant by the May 2015 exit of R.R.Donnelley.
Global insurer AXIS Reinsurance has signed an11-year lease for all 28,609 rentable square feet on the35th floor, and global investment banking firmHoulihan Lokey has signed a 15-year lease for all57,298 rentable square feet on floors 37 and 38. The new leaseskeep the 51-story, 1.1 million square foot building's occupancyrate at around 97%, a rate it has held since opening in 2005.
“Even though it's only ten years old, the owners have committedto adding new amenities and making sure the building stays one ofthe top trophy properties in the market,” JameyDix of The Telos Group tells GlobeSt.com.Along with Telos' Brian Whiting and BillTruszkowski, he represented the building's ownership.Tom Volini of ColliersInternational represented AXIS in the transaction, whileChris Wood, Steve Schneider,Andy Heymann of Cushman &Wakefield represented Houlihan Lokey.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
