U.S. Cellular is increasing its space by 56 percent at its namesake office development in Chicago, U.S. Cellular Plaza.
U.S. Cellular renewed and expanded its existing lease at the three-building plaza, located at 8410-8420 Bryn Mawr Ave. in Chicago. In doing so, the company expended its presence at the plaza to 331,797 square feet.
Francis Prock and Jason Simon, both principals with Colliers International in Chicago, represented FCA Partners, owners of U.S. Cellular Plaza, in this transaction.
The transaction is a significant one: It is the largest lease to be signed in the entire Chicago area in the last two years.
“U.S. Cellular has been a vital component of this office complex and the O’Hare office market for almost three decades,” said Edward Cherry, managing director at FCA Partners, in a statement. “We are proud of our collaboration with U.S. Cellular that has made U.S. Cellular Plaza such a solid office asset and a prime example of the type of investment we seek.”
As part of the new lease agreement with U.S. Cellular, FCA is scheduling both exterior and interior renovations. These changes include new landscaping, parking upgrades, renovated common areas and lobby renovations.
Bob Chodos and Steve Levitas of Newmark Grubb Knight Frank and Michael Adams of Colliers International represented U.S. Cellular in the transaction.
U.S. Cellular Plaza, which was built in 1981, is a three-building 637,484-square-foot Class-A office complex located in the city’s O’Hare office market. U.S. Cellular signed its original lease at the office complex in 1988 for just under 10,000 square feet. Prior to signing its new lease, U.S. Cellular was occupying the entire 212,428-square-foot 8410 building in the complex. It will now expand into an additional 119,369 square feet in the 8420 building.
