Construction on Salesforce Tower—the third phase of the development of Wolf Point in Chicago—was able to move ahead last month after Hines received construction financing north of $500 million.
The financing, first reported by the Chicago Tribune, was secured from JPMorgan Chase, Wells Fargo and U.S. Bank, among others.
CBRE brokered a deal on behalf of San Francisco-based Salesforce in 2018. The software and cloud computing firm, which currently employs more than 1,400 in Chicago, took naming rights and 500,000 square feet at the building and plans to add 1,000 new jobs locally over the next five years.
The future Salesforce Tower Chicago will be located on the Chicago riverfront, on the site formerly known as Wolf Point South. Designed by Pelli Clarke Pelli Architects, and developed by the Kennedy Family and Hines, Salesforce Tower Chicago will rise 60 stories above the Chicago River, in the River North neighborhood.
Salesforce employees will start moving into the regional headquarters upon completion of Salesforce Tower Chicago, currently slated for 2023.
