CBRE Facilitates Two HQ Moves to New Office Developments

CBRE made headlines this week for completing two headquarter relocations to new-construction office towers in Chicago.

444WLake

444 W. Lake in Chicago

At 150 N. Riverside, Crain’s reported that Navigant will take 110,000 square feet for the firm’s new headquarters. CBRE’s Drew Neiman represented ownership, Riverside Investment and Development, in the deal.

Just across the river at 444 W. Lake, CBRE’s Cal Wessman and Mark Cassata represented Chicago-based Harrison Street Capital in its move to 40,000 square feet, nearly doubling the firm’s space from its current footprint.

Both projects are scheduled to open in 2017 and leasing has been robust for each, with 444 W. Lake currently 70 percent leased and 150 N. Riverside 75 percent leased…a year before they are scheduled to open.

As CBRE’s Wessman tells Crain’s “The timing of both of them has been perfect,” said Wessman. “You had two good sites, two good designs and two established developers, and the timing of availability matched up well with some big deals that were out there.”

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