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New West Loop office tower secures construction financing

New West Loop office tower secures construction financing,ph2

JLL has arranged financing on behalf of developer Moceri+Roszak, LLC, for the construction of 145 South Wells, a to-be-built, Class A office development at the nexus of Chicago’s Central and West Loop markets. Bentall Kennedy’s U.S. Core Fund provided the financing.

“145 South Wells is backed by a superior design and development team with a solid track record of delivering compelling, creative projects in downtown Chicago. That, and a clear vision for the project along with an excellent location, resonated with Bentall Kennedy,” said JLL managing director David Hendrickson, who, along with managing director Keith Largay, executive vice president Chuck Johanns and vice president Patrik Modig, arranged the financing on behalf of the borrower.

JLL managing director Nikki Kern and vice president Mason Taylor will handle leasing of the 206,055-square-foot building. “Moceri+Roszak’s 145 South Wells will bring the modern loft office feel that has been so popular, especially with technology tenants in ‘fringe’ neighborhoods like Fulton Market, to a superior CBD location with excellent transit options and superior amenities,” said Kern.

145 South Wells will be a 20-story tower offering modern loft office space, with 3,840 square feet of ground floor retail and a 24-stall executive parking garage. Amenities include a fitness center, golf simulator, yoga/spin studios, an outdoor gathering space, social room, coffee and cocktail bars, conference rooms, an eco-garden and bike storage and lockers. The building is well served by various transit options. It will sit just a few blocks from Union Station and the Ogilvie Transportation Center, one of the city’s busiest commuter hubs, and is within a block of four CTA lines.

The project, Moceri+Roszak’s first office development in Chicago, will be the latest in spec office space to hit the market, on the heels of the 22-story, Solomon Cordwell Buenz-designed 625 W. Adams and Goettsch Partners’ 51-story replacement for the former GGP headquarters at 110 N. Wacker which are both under construction.

New West Loop office tower secures construction financing,ph1