August 18th, 2016
Chicago Class A Office Complex Attracts Several High-Profile Tenants
Chicago, IL – August 18, 2016 – Ivanhoé Cambridge and Callahan Capital Properties (CCP) today announced seven lease transactions totaling approximately 150,000 square feet at 10 & 120 South Riverside Plaza, a two-building, 1.4 million-square-foot office complex in the heart of downtown Chicago. This activity, which includes 93,600 square feet of new leases and 55,200 square feet of expansions and relocations, brings the Class A complex to over 95% leased.
“We are thrilled to welcome these high profile tenants to our office complex,” said Jonathan Pearce, Senior Vice President of Office Leasing for Ivanhoé Cambridge. “These new and expanding tenants are further confirmation that 10 & 120 South Riverside Plaza’s strategic location, overlooking downtown Chicago, its panoramic views and superior amenities continue to attract world-class companies.”
Since acquiring the property, Ivanhoé Cambridge and CCP implemented a significant capital investment plan, strategically positioning 10 & 120 South Riverside Plaza and successfully attracting a broad range of companies from an array of industries including technology, trading, healthcare, legal and creative services. The two-building complex, located on the west bank of the Chicago River in the West Loop, sits directly between Union Station and the Ogilvie Transportation Center, and offers outstanding views of the river and Downtown Chicago. With this stellar location, the 10 & 120 South Riverside Plaza complex provides tenants with easy access to Chicago’s many restaurants and other attractions. The two towers offer a number of amenities including a state-of-the-art fitness center, tenant lounge and two technologically-advanced conference facilities.
After the recently announced 36,520-square-foot commitment at 120 South Riverside Plaza by Ulta Beauty, the nation’s largest beauty products retailer, the largest new lease at the complex is Aetna’s 34,811-square-foot expansion at 10 South Riverside Plaza, for its subsidiary ‘bswift’, a company that uses technology and information to simplify the administration of health care, reduce costs and empower consumers. Other new deals signed at 10 South Riverside Plaza include Pure Insurance’s 12,517-square-foot lease and a 5,832-square-foot commitment by the Strategic Leasing Law Group. At 120 South Riverside Plaza, Media Ocean signed a new 25,909-square-foot lease; Trade Station signed a new 13,659-square-foot lease; and American Dietetic Association (ADA) signed a 20,361-square-foot lease to relocate within the building. Sara Spicklemire and Ellen Zalatoris of CBRE currently lead the leasing efforts at the complex.
About Ivanhoé Cambridge
Ivanhoé Cambridge, a global real estate industry leader, invests in high-quality properties and companies in select cities around the world. It does so prudently with a long-term view to optimize risk-adjusted returns. Founded in Quebec in 1953, Ivanhoé Cambridge has built a vertically integrated business across Canada. Internationally, the Company invests alongside key partners that are leaders in their respective markets. Through subsidiaries and partnerships, Ivanhoé Cambridge holds interests in close to 500 properties, consisting primarily in office, retail, residential and logistics real estate. Ivanhoé Cambridge held more than Cdn$55 billion in assets as at December 31, 2015. The Company is a real estate subsidiary of the Caisse de dépôt et placement du Québec (cdpq.com), one of Canada's leading institutional fund managers. For more information: ivanhoecambridge.com.
About Callahan Capital Properties (CCP)
Callahan Capital Properties (“CCP”) is a real estate private equity firm focused exclusively on the acquisition and management of high-quality office properties in the central business districts of major U.S. gateway cities. Together with its strategic partner, Ivanhoé Cambridge, CCP’s office platform currently totals almost 14 million square feet, with properties located in New York, Boston, Chicago, Seattle, Denver and Los Angeles. For more information: callahancp.com.