HFF has arranged a construction loan through Bank of the Ozarks for the development of a 20-story office building at 625 West Adams Street in Chicago’s West Loop.
A partnership of USAA Real Estate Company and a joint venture between White Oak Realty Partners, LLC and a CA Ventures affiliate, Vanderbilt Investment Properties, were the borrowers.
The project, designed by architect Martin Wolf, FAIA, will feature 438,837 square feet of office space and parking lot with 408 spaces and will seek LEED-Certification.
The building will have average floor plates of 31,500 rentable square feet, unobstructed 360 degree views of the city, open floor plans and an expansive 25′ high lobby with floor-to-ceiling glass. It will also offer tenants an outdoor terrace on the 7th and top floor, fitness center with outdoor terrace access, seventh floor restrooms with shower stalls and changing areas, 2,500 rentable square feet of ground floor retail and a location directly across from a public park, a scarcity in downtown.
Situated in the heart of Chicago’s West Loop, 625 West Adams is one block east of Chicago’s main highway, Interstate 90 and a few blocks west of both Union Station and Ogilvie Transportation Center providing commuter train access to the greater Chicago area.
The HFF debt placement team representing the borrower was led by managing director Christopher Carroll and senior managing director Trey Morsbach.
