August 11, 2017
Northern Trust Corp. leased 462,000 square feet in CNA Financial’s “Big Red,” 45-story building, and plans to shift 2,500 to 3,000 employees there from multiple Chicago locations in 2020. Northern Trust’s move to the Loop office tower at 333 S. Wabash Ave., is not expected to affect the company’s headquarters at 50 S. LaSalle St.
The deal includes signage, as well as naming rights, and is the second-largest office lease in downtown Chicago (largest: Bank of America’s 490,000-square-foot deal).
CNA is moving to a new 35-story tower on Franklin Street that developer John Buck Co. is building. As part of that anchor tenant deal, John Buck and partner, Morgan Stanley, bought CNA’s 1.2 million-square-foot red building for 108 million.
CBRE’s Todd Lippman, Todd Doney, James Whalen, Maura Mahoney and Scott Brandwein represented the tenant. NKF’s Bill Rolander and Jon Cordell represented the landlord.
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