The Telos Group and CBRE announced that they have been selected by Blackstone to reposition the office, retail and entertainment at the iconic Willis Tower in Chicago.
Blackstone closed the acquisition of the mixed-use tower on June 5, and plans to begin this repositioning immediately. The execution team will also include Equity Office, an affiliate of Blackstone, as property management for the 4.5 million square feet of office, retail and entertainment space, which includes the famed Skydeck.
Chicago-based Telos Group, LLC will be responsible for the strategic repositioning and leasing of the 3.8 million square feet of office space, and CBRE will be responsible for leasing in the retail and entertainment complex, anchored by the Skydeck.
Plans for the project include significant expansion of the building’s retail and entertainment offerings and a completely re-imagined office environment. The offices will combine extraordinary office space with enhanced lifestyle amenities geared toward a rapidly-changing and demanding workforce.
“There is no better owner than Blackstone to reignite the massive potential of Willis Tower. The building’s scale, identity and history require an ownership that is well capitalized, forward thinking and very creative. We could not be happier to be part of Blackstone’svision to transform Willis Tower into Chicago’s hottest office and retail center,” Brian Whiting, President of The Telos Group said.
Todd Siegel, First Vice President of CBRE, added, “Blackstone has an incredible vision for the repositioning of the retail space at the iconic Willis Tower and we are excited to embark on this endeavor with them.” Siegel continued, “We are confident that this partnership will yield exceptional results and deliver a new standard for retail offerings in Chicago.”
