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JLL Agency Leasing experts complete 145,000 square-foot lease renewal
CHICAGO, November 16, 2017 – JLL Agency Leasing experts today announced a 145,000 square-foot lease renewal for Fifth Third Bank at 222 South Riverside. The deal marks the second major lease renewal for the West Loop Office Tower after another big tenant, Trading Technologies, renewed their lease earlier this year. Both renewals come after a time when ownership invested nearly $50 million for a massive renovation project inside and out of the 40-story building that sits above Union Station.
Executive Vice President Nikki Kern and Vice President Kim Doyle led the JLL team on the deal on behalf of ownership. Cal Wessmen and Brad Serot with CBRE represented Fifth Third Bank in the deal.
"This has been a most transformative year for 222 South Riverside where we're now able to offer our tenants an entirely new experience," said Kern. "For years we've been in this amenities arms race to remain competitive in keeping our current tenants and seeking new ones. We saw ownership reinvest in this already highly desirable asset, and now that we've come to the other side of this exciting project, it's great to see the recommitments of major tenants like Fifth Third Bank and Trading Technologies."
In 2005 Fifth Third moved from its long-time home of Rolling Meadows to 222 S Riverside as part of the bank's effort to better serve its dispersed customer base and tap into a wider talent pool of future employees. Today the firms occupies the top floors of the building, in addition to a 4,000-square-foot retail bank branch on the ground floor.
Over the past year the common areas at 222 S Riverside underwent a complete transformation. From inside, the lobby features new ceiling, walls and flooring, new main entrance elements such as turnstiles and a security desk, upgraded elevators with destination dispatch systems and new finishes inside the cabs, and rehabbed common corridors and restrooms on all multi-tenant floors. A new tenant lounge was also constructed offering everything from a game room, giant-screen TVs and a bar to a state-of-the-art golf simulator in a sound-attenuated room.
About JLL JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. A Fortune 500 company, JLL helps real estate owners, occupiers and investors achieve their business ambitions. In 2016, JLL had revenue of $6.8 billion and fee revenue of $5.8 billion and, on behalf of clients, managed 4.4 billion square feet, or 409 million square meters, and completed sales acquisitions and finance transactions of approximately $145 billion. At the end of the third quarter of 2017, JLL had nearly 300 corporate offices, operations in over 80 countries and a global workforce of over 80,000. As of September 30, 2017, LaSalle Investment Management had $59.0 billion of real estate under asset management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.
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