March 30, 2020
Cushman & Wakefield’s Chris Wood is annually one of the top-producing brokers in the Chicago market. The value of his 2019 deals, in both Chicago and nationwide, ended up being approximately $450 million, highlighted by a long-term lease renewal for USG, the global building materials manufacturer which has been in Chicago for more than a century.
After an in-depth office space search for USG, Wood and his team brokered a lease restructure and 10-year lease renewal, rightsizing from 275,000 square feet to 220,000 square feet, while remaining at 550 W. Adams in the Chicago Loop.
A unique feature of the deal was that midway through the review process, it was announced that USG would be acquired by Knauf, a German-based global building materials company.
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