Fieldwork, Inc., a world-class provider of market research services and focus group facilities, announces it will extend its commitment at 111 East Wacker Drive. With a little less than two years remaining on its current lease, the company has decided to sign an early renewal of its 16,041 square feet of space for the long term. Fieldwork has occupied the 2nd floor of the building for the last nine years, which functions as the company’s national headquarters and its downtown Chicago focus group space.
Terry Mostrom and Jon Azulay of global commercial real estate services firm, Savills Studley, co-brokered the transaction with Craig Levine of Washington Partners, both representing Fieldwork. The team has advised the company on its space in Schaumburg and O’Hare as well. Monica Moore of JLL represented the landlord, Equity Commonwealth REIT in this agreement.
According to Mostrom, Savills Studley and Washington Partners were able to negotiate a lease structure that protected Fieldwork’s existing attractive rate. “We secured a large concession package that enables Fieldwork to upgrade, refurbish and enhance its space. If they waited another year, the terms would be less desirable.”
Azulay adds, “The tenant improvements and other favorable lease provisions will allow Fieldwork to maintain a state-of-the-art headquarters in Chicago reflective of its status as a leader in the market research field.”