July 8, 2019
Already one of the most popular office submarkets in Chicago’s CBD, the West Loop continued to collect tenants during the second quarter, NKF reported. Q2 saw positive absorption of 555,444 square feet in the West Loop, more than in any other submarket across the region.
In particular, WeWork’s lease for 91,000 square feet brought the speculative development at 625 W. Adams St. to 83% leased and contributed to the West Loop’s active quarter. It also helped bring the coworking giant past the one-million-square-foot mark leased across the CBD.
Also among leasing highlights in the West Loop, law firm Perkins Coie leased 100,000 square feet at 110 North Wacker, which is set to open in late 2020. Four new tenants will be moving in at 550 West Jackson: W.R. Berkley committed to taking 70,000 square feet, while Live Nation/Ticketmaster, Collins Engineers and Verifone all signed full-floor leases there as well.
Pictured: 625 W. Adams
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