Loop loft office secures construction funds, leasing agent
JLL arranges financing, will handle leasing for Moceri+Roszak's 145 South Wells
CHICAGO, May 29, 2018 — JLL's commercial real estate experts today announced they have arranged financing on behalf of developer Moceri+Roszak, LLC, for the construction of 145 South Wells, a to-be-built Class A modern loft office development at the nexus of Chicago's Central and West Loop markets. Bentall Kennedy's U.S. Core Fund provided the financing.
Managing Directors David Hendrickson and Keith Largay, along with Executive Vice President Chuck Johanns and Vice President Patrik Modig, arranged the financing on behalf of the borrower.
"145 South Wells is backed by a superior design and development team with a solid track record of delivering compelling, creative projects in downtown Chicago. That, and a clear vision for the project along with an excellent location, resonated with Bentall Kennedy," said Hendrickson.
JLL also announced that Managing Director Nikki Kern and Vice President Mason Taylor will handle leasing of the 206,055-square- foot building.
"Moceri+Roszak's 145 South Wells will bring the modern loft office feel that has been so popular, especially with technology tenants in 'fringe' neighborhoods like Fulton Market, to a superior CBD location with excellent transit options and superior amenities," said Kern.
145 South Wells will be a 20-story tower offering modern loft office space above 3,840 square feet of ground floor retail and a 24-stall executive parking garage. Amenities include a fitness center, golf simulator, yoga/spin studios, an outdoor gathering space, social room, coffee and cocktail bars, conference rooms, an eco-garden and bike storage and lockers.
The building is well served by various transit options. It will sit just five blocks from Union Station and the Ogilvie Transportation Center, one of the city's busiest commuter hubs, and is within a block of four CTA lines.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether a sale, financing, repositioning, advisory or recapitalization execution. In 2017 alone, the firm's 2,000 Capital Markets specialists completed $170 billion in investment sale and debt and equity transactions globally.
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About Bentall Kennedy
Bentall Kennedy, a Sun Life Investment Management company, is one of the largest global real estate investment advisors and one of North America's foremost providers of real estate services. Bentall Kennedy serves the interests of more than 550 institutional clients with expertise in office, retail, industrial and multi-residential assets throughout Canada and the U.S. Bentall Kennedy is comprised of Bentall Kennedy (Canada) Limited Partnership, Bentall Kennedy (U.S.) Limited Partnership and the real estate and mortgage operations of their affiliates. Bentall Kennedy is a member of UN PRI and a recognized Responsible Property Investing leader ranked among the top firms around the globe in the Global Real Estate Sustainability Benchmark (GRESB) for the seventh consecutive year since GRESB was launched.
For more information, bentallkennedy.com.
About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with nearly 300 corporate offices, operations in over 80 countries and a global workforce of 83,500 as of March 31, 2018. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated.