Upwork expands in Chicago with move to 525 W. Van Buren
JLL Agency Leasing team completes 67,730 square-foot lease
CHICAGO, January 24, 2019 – On behalf of AEW Capital Management, LP (AEW), JLL’s Agency Leasing experts today announced they have signed a deal with Upwork, the largest global freelancing website, who will take 67,730 square feet of space at 525 West Van Buren. The Silicon Valley-based startup launched its Chicago presence in 2017 with plans to take advantage of the city’s growing tech scene.
Managing Director Melissa Rubenstein and Executive Vice President Gary Kostecki led the JLL team on the deal on behalf of AEW. Allen Rogoway, Managing Principal, Janna Luce, Principal, and Eric Nolin, Project Manager, all with Cresa, represented Upwork.
“This area of West Loop continues to emerge and the neighborhood is really establishing itself, especially with the redevelopment projects we are seeing take place at the Old Main Post Office and Union Station. It’s what’s attracting the newest wave of growing tech tenants like Upwork,” said Rubenstein.
Added Rogoway, “Upwork has seen a tremendous amount of success since establishing its Chicago roots just a year and a half ago. It really speaks to the city’s strength as a growing tech hub and the incredible depth of talent we have here in Chicago. We are thrilled to have represented Upwork in their move to 525 West Van Buren.”
AEW purchased the property in 2015 from a venture of New York-based Northwood Investors. Completed in 2002, the 16-story, Class A office tower was designed by OWP/P Architects and consists of 519,668 square feet of space. This year, AEW plans to transform the ground floor lobby with the addition of high-end finishes and installation of a floating stairwell to connect the lobby and mezzanine levels.
“As we look to transform some of our existing space at 525 West Van Buren this is a direct response to the tenants we are attracting to the building,” said Matt Tracy, Director at AEW. “We really want to create a best-in-class environment throughout the entire building and we’re looking forward to putting in place some very exciting changes for our tenant community.”
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 annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of over 90,000 as of December 31, 2018. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com