The Wrigley Building recently signed new leases with Brainlab and Shazam — two major technology companies — totaling 11,000 square feet. During the last eight months, the leasing momentum for the historic Wrigley Building has increased its occupancy by 30 percent, with new leases totaling 115,773 square feet. The building’s two towers are now 53 percent leased.
The Wrigley Building is owned by a consortium of investors led by BDT Capital Partners and includes Zeller Realty Group, as well as the co-founders of Groupon, Eric Lefkofsky and Brad Keywell, as minority investors.
Contiguous leasing space is available ranging from 2,000 square-foot spec suites to a 60,000-square-foot block. There is also a 45,000-square-foot block at the top of the North Tower that includes outdoor terrace space and the “Cloud Room.” The Cloud Room is a unique space on the 18th floor of the north tower that previously served as a lounge and wellness area for employees of the Wrigley Companies.
“During the 2012 renovation of the Cloud Room the new owners of The Wrigley Building tore down the walls, creating an incredibly light and airy office space on the top floor of the north tower,” Melissa Schastok, marketing director for Zeller Realty Group, said. “The most interesting feature, and the reason behind its name, is the 10′ x 10′ x 25′ skylight that rises inside the belfry on the roof of the north tower and floods the 18th floor with light. This belfry is painted on its interior surfaces, below the panoramic windows, in a beautiful and realistic cloud pattern.”
Executive vice president of Zeller Realty Group Ari Glass said that the company is thrilled to have exceeded its leasing goals in such a short time, and will continue to market the building, as well as employ the successful strategies that have served the company well so far. With the vacant space still available, Zeller Realty Group is doing its best to keep the momentum going.
“The Wrigley Building fills a special niche in that it has a gorgeous, famously historical exterior,” Glass said. “Yet inside, it is every bit as modern as a brand-new building with updated systems and infrastructure, a modern tenant lounge and conference center as well as a state-of-the-art health club. We are very confident that our strategy will fill the building in a short time.”
Shazam, producers of a mobile app for music and TV, is leasing 1,471 square feet in the North Tower. The company was previously located at 200 S. Wacker Drive.
Beginning Dec. 1, the medical technology company Brainlab will lease 9,379 square feet in the South Tower. The company is expanding its presence in the Chicago area with this new office to include marketing and education staff along with a showroom for all customer visits. The education team will be relocating from its U.S. headquarters in Westchester and the marketing group from 600 W. Van Buren.
Director of corporate marketing for Brainlab Ann Marie LaCasha said there were many reasons for expanding the company’s presence in downtown Chicago.
“We can provide top-level theory and didactic customer training and education in our new state-of-the-art classroom,” LaCasha said. “Customers can experience our cutting-edge products in a highly advanced demo room. They have a world class city at their feet where they can take in art museums, stroll around Millenium Park, dine in one of many great restaurants, and just enjoy the city. Combined, these reasons will continue to build on the Brainlab brand and experience.”
Glass says that Zeller Realty Group is pleased about Brainlab and Shazam joining the tenant roster. He also stated that the Wrigley Building’s cutting-edge technology infrastructure, prime location and building upgrades have been the major factors in drawing such innovative companies to the property.
“We attract everything from law firms and family offices to brand new tech firms who want to stay in the same neighborhood as Groupon, 1871 and Google’s Motorola,” Glass said. “Our location in the River North area and directly on Michigan Avenue provides a proximity to all modes of transportation, hotels & condos, restaurants, bars and shopping that the Loop cannot provide.”
He added, “The history and aesthetics of the building attract a broad spectrum of office users, and we are particularly noticing that the more creative fields of marketing, advertising and tech development are drawn here. The key to our diverse tenant base is that we are attracting a wide group with modern amenities and great looks but we retain our tenants with the enhanced infrastructure and white glove service for which Zeller Realty Group is known.”
The comprehensive makeover of The Wrigley Building includes revitalized lobbies and common areas, upgraded systems, a fitness center, tenant lounge and conference center. The plaza was redesigned with up to 70,000 square feet of retail space.
One of the last renovations taking place at the Wrigley Building is the new 30,000-square-foot Walgreens flagship store, opening June 25. According to a release from Zeller Realty Group, the store will be twice the size of a typical Walgreens drugstore, featuring upscale beauty offerings, an expanded menu of fresh foods and the kind of high-quality customer experience found at the company’s 11 other flagship stores located in urban settings nationwide. It will also showcase the company’s new ‘well experience’ format, including pharmacists brought out from behind the counter to be more accessible for patient consultations.
