WEDNESDAY, NOVEMBER 19, 2008

Cold One

by Maureen Wilkey
Chicago

With the help of site selection services from Jones Lang LaSalle, MillerCoors has chosen 250 South Wacker Drive as the new location for its corporate headquarters. The beer giant will now occupy the top eight floors of the building and employ about 400 people in Chicago.

"We did a search on a national basis," says Michael Sessa, managing director with Jones Lang LaSalle. "They should be ready to move in the second quarter of 2009."

Sessa and Jones Lang LaSalle Managing Director Jock Howland and Executive Vice Presidents Craig McKesson, Dan Maslauski, Joel Jaffe and Hugh Murphy represented MillerCoors in the transaction. John Dempsey and Bob Gillespie from CB Richard Ellis represented the landlord.

MillerCoors started the search on a nationwide basis, but quickly narrowed its choice cities down to Chicago and Dallas.

"It's in a high energy part of the city and has great connectivity to the train stations," Sessa says. "(The building) was also completely renovated a few years ago."

The 15-story building received a $30 million renovation which included several new environmentally friendly elements. MillerCoors also received about $20 million in city and state tax incentives after Jones Lang LaSalle negotiated with Mayor Richard M. Daley and Governor Rod Blagojevich, according to a release. MillerCoors will still operate in Milwaukee, Wisconsin, and Golden, Colorado, but Chicago will serve as the main headquarters.

"This area has a great young workforce and has gained a lot of energy over the last 10 to 15 years," Sessa says. "This was a unique opportunity for them within the Loop."

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