Posted 21 months ago in Trending, Investments in the Loop
2 MIN READ – Many workplaces and employees still see the value of having an office space and are even upgrading to spaces with more square footage and better amenities, despite some organizations shifting to hybrid or remote schedules. Read an excerpt from a Chicago Business Journal article written by Alex Zorn on why patent and intellectual property law firm Hanley Flight & Zimmerman decided to move and upgrade their office space in the Loop.
Read the following excerpt from Chicago Business Journal article "What makes an office building 'commute worthy' in 2023?" written by Alex Zorn:
With more companies evaluating their work-from-home policies moving forward, recent lease signings in downtown Chicago continue to demonstrate how some are upgrading their office space as a way draw employees back.
This week Hanley Flight & Zimmerman, a patent and intellectual property law firm, signed a 14,000-square-foot lease at 10 S. Wacker, also known as the CME Center. The contemporary Class A building's features include a tenant lounge, conferencing center and 24-hour fitness facilities. It also has a riverside restaurant and wine bar.
Hanley Flight & Zimmerman is currently headquartered down the street at 150 S. Wacker. in a space that's about 15,000 square feet.
"The upgrade to a fully built-out, furnished space in a highly amenitized building was important to the firm as they try and encourage employees to come back to the office and as a recruiting tool for their future growth plans," Nathan Miller, an associate broker at Transwestern who worked on the deal, told the Chicago Business Journal.
He said it's not just the newest buildings that are drawing new tenants, but the buildings that are investing to upgrade their amenities as well.
Other downtown investment news includes the intralogistics company E80 Group relocating their Skokie headquarters to the Loop just off of the river at 448 N. LaSalle Street. Like Hanley Flight & Zimmerman, E80 Group attributes the building's amenities as the biggest selling point.
"Most of our employees are 28 to 35 years old and are living somewhere near the downtown/River North-area," William Nelson, president of the E80 Group, told the Chicago Business Journal. "We looked around at everything, we looked at Central Loop, West Loop, and we were very close to an option in Fulton Market, but at the end of the day the building won out for us."
The Loop prevails. Read more on recent investments in the Loop here. Read the full article from Chicago Business Journal here.
