Office N Illinois

Cushman & Wakefield secures lease restructuring and extension for USG global headquarters

Cushman & Wakefield secures lease restructuring extension for USG,ph1

Cushman & Wakefield has represented USG Corporation in restructuring and securing a 10-year lease extension for the company’s global headquarters at 550 W. Adams Street in Chicago. The global building materials manufacturer will remain in 220,000 square feet on floors 11 through 18.

Chris Wood, David Stefancic and Brian Duffy represented USG in lease negotiations. Joy Jordan and Emily Marquardt of The Telos Group represented the landlord, GLL Real Estate Partners. Cushman & Wakefield will also provide project management services to USG as part of a renovation of the headquarter facilities.

“USG has been based in Chicago for more than 100 years. The company executed an in-depth and detailed search for office space, looking at existing buildings in the central business district as well as options to be an anchor tenant in new developments,” said Chris Wood, executive managing director, transaction advisory at Cushman & Wakefield Chicago. “Ultimately, they elected to renew and restructure their lease at 550 W. Adams Street, extending it by 10 years. The decision complements USG’s long-term plans for continued growth and success, which will continue with the unrivaled talent and culture available in Chicago.”