Irvine Company Office Properties have secured a full floor lease at 71 S. Wacker for leading intellectual property law firm Banner & Witcoff, Ltd. In a separate transaction, independent actuarial and consulting firm, Milliman, expanded their current lease, bringing both deals to nearly 150,000 square feet in the 48-story trophy tower in downtown Chicago.
“The number of prominent companies showing interest in 71 S. Wacker speaks volumes about the prestige of the building,” said Greg Tait, senior leasing director for Irvine Company Office Properties’ Chicago portfolio. “Its world-class design, breathtaking views and highly sought-after location make 71 S. Wacker the perfect workplace community for the region’s top law, financial and consulting firms.”
Banner & Witcoff will take 33,249 square feet and occupy a full floor, moving into 71 S. Wacker from 10 S. Wacker this fall. Milliman has expanded their lease to occupy a total of 116,696 square feet. Todd Lippman and Cal Wessman of CBRE represented Banner & Witcoff while June Simonian of Transwestern represented Milliman. Brad Despot, Annie Nicolau and Mark Georgas of JLL represented the Irvine Company in both deals.
“Our new location at 71 S. Wacker will allow us to continue to focus on growth in the Chicago market, in an environment that inspires our employees to create a tangible and lasting impact for our clients,” said Mary Schille, executive director, Banner & Witcoff. “It offers a unique opportunity for us to focus on our core business in an innovative and modern work environment and allow us retain and attract top-tier talent.”
The Irvine Company entered the Chicago market in 2010, when it acquired the 48-story, 1.5-million square foot 71 South Wacker. The tower’s elegant elliptical design offers expansive views and houses prestigious customers in hospitality, legal, financial services and technology, including IBM and the law firm of Mayer Brown LLP. The Irvine Company Office Properties’ Chicago portfolio comprises 4.2 million square feet in three Class A+ office high-rise properties: 71 S. Wacker, the 60-story 300 North LaSalle and One North Wacker, also known as UBS Tower.