Irvine Company leases nearly 150,000 square feet at Chicago’s iconic trophy tower 71 South Wacker
Intellectual property law firm Banner & Witcoff amongst building's newest customers
CHICAGO, Ill. (May 30, 2018) – Irvine Company Office Properties announced today that leading intellectual property law firm Banner & Witcoff, Ltd. has signed a full floor lease at 71 S. Wacker. Independent actuarial and consulting firm, Milliman, has expanded their current lease, bringing both deals to nearly 150,000 square feet in the 48-story iconic 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, a nationally renowned intellectual property law firm, will take 33,249 square feet and occupy a full floor. The firm will move to 71 S. Wacker from 10 S. Wacker this fall.
Leading independent actuarial and consulting firm, Milliman, has expanded their lease to occupy 116,696 square feet.
“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.”
Todd Lippman and Cal Wessman of CBRE represented Banner & Witcoff.
June Simonian of Transwestern represented Milliman.
Brad Despot, Annie Nicolau, and Mark Georgas of JLL represented the Irvine Company in both deals.
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 60-story 300 North LaSalle overlooking the Chicago River, was acquired by the Irvine Company in 2014. Its ideal setting provides access to the River North neighborhood, including the finest restaurants, shops and entertainment. Current customers include Kirkland & Ellis, Chicago’s biggest law firm, and management consulting firm Boston Consulting Group.
One North Wacker, UBS Tower is situated in the heart of The Loop. Its iconic architecture coupled with modern stainless steel and glass design, make it one of the most prestigious locations in downtown Chicago.
The Chicago portfolio includes 4.2 million square feet in three Class A+ office high-rise properties that includes the company’s signature amenities, The Commons and KINETIC. The Commons provides comfortable, WiFi enabled spaces for employees to work, meet, innovate or simply take a break; KINETIC is a fitness and wellness movement offering a state-of-the-art fitness center and workplace wellness programming.
About Irvine Company Office Properties
Irvine Company has evolved the traditional office to something much more: vibrant workplace communities. A place where collaboration is encouraged and creativity is enabled to elevate business success. The company owns and manages 150 vibrant workplace communities in Orange County, Los Angeles, Silicon Valley and San Diego. It also owns world-class skyscrapers in New York and Chicago. The portfolio includes 50 million square feet serving more than 3,000 companies. Its timeless design and quality craftsmanship is consistent with its long-term view and pride of ownership.