FRIDAY, JUNE 27, 2008
by Jenn DankoChicagoThe John Buck Co. announced that two units of Marsh & McLennan Cos. signed a lease to occupy 134,000 square feet of the forthcoming office development at 155 North Wacker Drive. Two units of the global professional services firm will occupy floors 11 through 16 of the 46-story office development, including human resources consulting firm Mercer (US) Inc. and risk and reinsurance specialist Guy Carpenter.
The new lease brings the building to 52 percent occupied. There are now four tenants that will occupy the 1.13 million square foot building when it opens in July 2009.
Other building tenants include: Law firm Skadden Arps, financial services firm Bridge Finance Group LLC, and the American Hospital Association.
"We're pretty good in relation to our projections," says The John Buck Co. Principal Drew Nieman speaking to the building's leasing numbers. He represented the development in the recent transaction. "Right now, everything is on or about performa. The new buildings are enjoying a pretty good market-I'm not sure everyone else is."
The building at 155 North Wacker Drive will be a Class A+ property featuring an efficient design that includes more than 27,000 square feet of space per floor. Nieman says that the core-to-glass dimension is optimal, with each floor featuring column-free space.
"There is no spandrel glass, which improves lighting and increases efficiency," he adds.
In selecting 155 North Wacker Drive as their new workspace, tenants cited efficient floor plates and its LEED certification at the silver level. The building also features an exterior arcade, a 2-story lobby constructed in marble, a 2-level subterranean parking garage for tenants as well as conference and fitness centers.
"Our goal is to be 70 percent leased by the end of the year-which is still six months before our doors open," Nieman says. "We have a lot of activity."
Mercer and Guy Carpenter were advised by: US Equities Realty President and COO Nancy Pacher; US Equities Realty Senior Vice President Geoff Euston; The Staubach Co. Regional President Steve Stratton; and The Staubach Co. Managing Principal Jock Howland.
Nieman and Bill Truszkowski, vice president of The John Buck Co., represented the development.
The building at 155 North Wacker Drive is designed by Goettsch Partners and owned by a joint-venture of the JBC Funds, Morgan Stanley's Prime Property Fund and Brijus Properties.
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