Piedmont Office Realty Trust, Inc. has completed a 15-year lease renewal and expansion with GE Capital at its 500 West Monroe property in Chicago. GE Capital renewed 292,000 square feet of its current lease and is contractually obligated to expand to at least 371,000 square feet during the first two years of the new lease.
“GE Capital is committed to adding 1,000 jobs in the city of Chicago by 2014 to better serve our current and new customers in the area,” said Linda Fiore, managing director, Chicago business development for GE Capital, Americas in a release. “500 West Monroe allows for this planned growth and we look forward to expanding our presence at the property.”
Jeffrey Samaras and Kent Ilhardt of Cushman & Wakefield represented the tenant in the transaction. Steve Smith, Gary Kostecki and Brad Despot of Jones Lang LaSalle represented Piedmont in the negotiations.
