Office N Illinois

Accenture expands, takes naming rights at Chicago's 500 West Madison

Accenture expands, takes naming rights at Chicago's 500 West Madison,ph1

The Helmut Jahn-designed building at 500 West Madison in Chicago will now be known as Accenture Tower, following a lease expansion by the Dublin, Ireland-based professional services company. Accenture now occupies 226,486 square feet in the property—owned by KBS Real Estate Investment Trust III—enough space to accommodate all of its approximately 6,200 area workers and to hire another 600 tech employees by 2022.

The 40-story, 1.47-million-square-foot Accenture Tower sits above Ogilvie Transportation Center in the city’s West Loop. The first two levels of the post-modern styled building are comprised of 80,000 square feet of retail space, with more than 45 stores and restaurants. KBS intends on rebranding lobby and amenity areas to highlight their new partnership with Accenture. Kyle Kamin, Todd Lippman and Michael Dash of CBRE represented Accenture and Wendy Katz and Matt Lerner of Cushman & Wakefield represented KBS in the transaction.

“Our new agreement with Accenture is a testament to the building’s exceptional amenities and prime location, which are aimed to provide tenants a unique work-play lifestyle,” said Dan Park, senior vice president at KBS and asset manager for the property. “Anything one could possibly need during their workday is offered in the Accenture Tower. We are pleased to welcome Accenture as the new anchor tenant and look forward to continuing our partnership.”

Built in 1987, Accenture Tower was Chicago’s first and largest full-service office location. The property currently holds a record for the largest Class A, LEED Gold-certified building in Chicago for its environmental sustainability. KBS underwent a multi-million-dollar renovation of the property in 2015 with the intent of providing tenants best-in-class services and amenities. The property now features a two-level fitness center spanning 14,000 square feet, with a basketball court, group exercise classes and a new tenant lounge with air hockey, shuffle board and wine lockers. The property has been named Building of the Year on two separate occasions by the Building Owners and Managers Association (BOMA).

“The building brings optimal flexibility and growth for Accenture as it unites its Chicago-based people in one location,” said Katz, an executive director, agency leasing for Cushman & Wakefield who brokered the deal for KBS. “Accenture Tower is situated in the center of the hottest Chicago submarkets, including the West Loop, Fulton Market and River North, making it a prime location for Accenture’s people.”