Colliers International’s David Burden and Michael Marrion represented global professional services firm Huron in its 134,000-square-foot headquarters lease restructure and renewal at Union Tower located at 550 W. Van Buren Street in Chicago.
“Huron is excited to see all of the new construction and redevelopment activity in the area and is excited to continue to call the southwest Loop submarket its home for the next ten years,” said Burden, a principal in Colliers corporate services practice group.
Cushman & Wakefield represented the building landlord, Vancouver-based Onni Group, in the transaction. Onni Group demonstrated a commitment to retaining Huron as its anchor tenant, contributing significantly to company’s improvements while also agreeing to make additional upgrades to common areas of the building.
“Huron plans to renovate and improve its workplace in phases over the next few years,” said Burden. “The redesign of more open floor plans will allow Huron to increase efficiency and improve productivity and recruiting.”
550 West Van Buren is a 17-story, 332,000-square-foot building in Chicago’s West Loop. The building is LEED Gold Certified and includes indoor heated executive parking, a Starbucks on-site and elevator identity and access for up to three tenants per floor. The building is currently renovating its fitness center and tenant lounge, with expected completion by the end of the year. Its convenient location is adjacent to Union Station, the CTA Blue Line and area expressways.
