Ivanhoé Cambridge and co-investor and developer Hines have announced that the law firm of DLA Piper has signed a lease to relocate its Chicago office to River Point at 444 W. Lake St. in Chicago’s West Loop area.
DLA Piper has leased approximately 175,000 square feet of office space on levels nine through 16 in River Point and will move to its new space in early 2017. Designed to meet all the needs of a 21st century law firm, the 52-story, 1.05 million square foot building will offer world-class architecture and first-class amenities, including a 1.5-acre public park and landscaped river walk, retail shops, a fitness center and views of the Chicago River. The building has been designed to achieve LEED Gold.
“We are excited to move into this state-of-the-art building in a great location on the Chicago River. Our new offices will reflect the firm’s global brand and provide a highly efficient, modern environment in which to serve our clients,” said David Mendelsohn, managing partner of DLA Piper’s Chicago office.
“While we are developing a modern world-class office project, it is the tenants that truly make the building great. Adding one of the largest law firms in the world to our tenant mix is further evidence of how River Point will be viewed in Chicago,” said Greg Van Schaack, Hines senior managing director overseeing the River Point project.
“We congratulate DLA Piper on choosing River Point, which promises to be a real game-changer in Chicago’s West Loop,” said Arthur Lloyd, executive vice president, global investments at Ivanhoé Cambridge. “Offering ultra-modern facilities and a fantastic location, its leasing success is now setting the trend in top-quality office space in Chicago.”
DLA Piper was represented in the transaction by Jones Lang LaSalle (Steve Stratton, Bill Rogers, Rob Copito and Phil Leibow) and Cushman & Wakefield (Mark Robbins). Building ownership was represented by Hines (Greg Van Schaack, Tom D’Arcy, Jim Walsh and Laura Hines).
The lawyers in DLA Piper’s Chicago office work in a broad range of practices and sectors, including real estate, finance, financial services, restructuring, corporate and securities, private equity, franchise and distribution, intellectual property, labor and employment, venture capital and emerging companies, and tax.