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Irvine Company leases 85,000 square feet at 71 South Wacker to cloud services firm

Irvine Company leases 85,000 square feet at 71 South Wacker to cloud servic,ph01
71 South Wacker Drive, Chicago. (Image courtesy of Irvine Company)

iManage, a leading global provider of work management product solutions, has signed an 85,000-square-foot lease at Irvine Company’s 71 South Wacker, a 48-story trophy tower in downtown Chicago. Frank Franzese, Steven Bauer and Aaron Schuster of Cushman & Wakefield represented iManage while Brad Despot, Mark Georgas and Annie Nicolau of JLL represented Irvine Company.

“71 South Wacker’s world-class design, unique amenity mix and highly sought-after location make it the perfect workplace community for a growing company like iManage,” said Greg Tait, senior leasing director, Irvine Company’s Chicago portfolio. “We appreciate them as a customer, the value they place on their customers and the overarching culture that drives their business. We are delighted that they have chosen 71 South Wacker as the place to continue their journey—growing their business, serving their customers and nurturing their employees.”

iManage is moving from 540 West Madison Street, and will occupy its space at 71 South Wacker in early 2021. The tech firm automates routine cognitive tasks, provides powerful insights and streamlines how professionals work, with a focus on serving law firms, corporate legal departments, accounting and other professional services companies.

“iManage is experiencing rapid growth and expansion, and we’re excited about our new location at 71 South Wacker,” said iManage CEO Neil Araujo. “Many professional corporations rely on us to deliver great client work, and our new workspace will foster enhanced collaboration with partners and clients and among our teams internally. The property has virtually everything we need to provide outstanding services and recruit and retain top talent.”

Irvine Company entered the Chicago market in 2010, when it acquired the 48-story, 1.5-million-square-foot 71 South Wacker. The tower’s elegant elliptical design offers expansive views and houses prestigious customers in hospitality, legal, financial services and technology, including IBM and the law firm of Mayer Brown LLP. Other assets in their 4.2-million-square-foot Chicago portfolio include the 60-story 300 North LaSalle which counts Kirkland & Ellis and Boston Consulting Group among its tenants and UBS Tower, located at One North Wacker.