December 17, 2015 Comments Off on CNA to Sell 1M-SF “Big Red” Office Building Views: 491 California News, Illinois, Midwest, National News

CNA to Sell 1M-SF “Big Red” Office Building

CNA Financial Corp. has signed a letter of intent with developer John S. Buck Co. of Chicago to sell its 44-story, 1.1-million-sf building. The insurance company’s global headquarters has been in the office tower, known as “Big Red,” since the building’s opening in the early 1970s. John S. Buck will officially acquire the property at 333 S. Wabash in early 2016. CNA will remain there until summer 2018.

CNA also signed an agreement with John S. Buck to lease 275,000 sf in a 36-story, 800,000-square-foot Class A office tower at 151 N. Franklin St., which is currently under development. Upon completion, the office tower will be named CNA Center.

“The iconic building we call ‘Big Red’ has served us well since 1972, and it will always be an important part of our history and legacy,” said CNA chairman and CEO Thomas F. Motamed. “Much has changed in the way we work over the past 40 years, and CNA Center at 151 N. Franklin is designed specifically to meet our needs today and well into the future.”

Read More at PR Newswire

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