NEWPORT BEACH, Calif. (December 8, 2015) — Irvine Company Office Properties announced today that Chicago law firm Mayer Brown, LLP has signed a lease extension for 265,000 square feet at the 48-story office tower at 71 South Wacker Drive, one of the most sought-after addresses in Chicago.
The celebrated law firm has called 71 South Wacker its home since the building opened in 2005, and its restructuring and extension underscore the appeal of the 1.5-million-square-foot building to industry-leading companies.
Other longtime customers represent some of the most prestigious financial and professional companies in the country, including regional offices for Citizens Bank, Piper Jaffray, Legal & General, Towers Watson and Milliman.
“We are pleased that Mayer Brown will continue its legacy here, and that we are in a position to provide space and lease structure flexibility to help our customers thrive,” said John Turner, Vice President, Irvine Company Office Properties, noting the building is 98-percent leased. “The number of prominent companies showing interest in the building speaks volumes about the desirability of 71 South Wacker Drive.”
“With its central location, Chicago is ideally situated for serving our clients in the US and around the world,” said Rebecca Eisner, partner-in-charge of Mayer Brown’s Chicago office. “Mayer Brown is undertaking changes in our Chicago space to prepare us for the future of legal services, to enhance the experience of working here, and to elevate our client service delivery capabilities. We are pleased to extend our lease at 71 South Wacker to accomplish these important objectives.”
The 48-story building’s design by renowned architect Henry Cobb of Pei Cobb Freed & Partners features a distinctive and elegant elliptical design, which provides customers with maximized setbacks and more expansive views than a conventional skyscraper allows. The three-story glass lobby meets the street with a linear grove of towering bamboo, creating a pleasing indoor sanctuary. Additional amenities are designed to foster a dynamic workplace community. They include a restaurant, retail bank, restaurant-quality customer cafeterias with catering service, full-service fitness and conference centers and concierge services. The building is also renowned for its public gardens and was awarded LEED Platinum certification, the highest environmental recognition of its kind.
Brokers representing Mayer Brown are Todd Lippman, Vice Chairman;
James Whalen, Executive Vice President; and Pete Delneky, Vice President from CBRE. Representing Irvine Co. are Brad Despot, Principal; and Jon Copeland, Senior Vice President from Avison Young.
The Irvine Company’s holdings in Chicago also include One North Wacker and 300 North LaSalle. As California’s leading provider of workspaces, the Irvine Company has brought a unique perspective to Chicago, offering flexibility and modernity to the 4.2 million square feet of office workspace the company owns in downtown Chicago.
About Irvine Company Office Properties
Irvine Company Office Properties owns and operates a portfolio of approximately 500 high quality buildings in some of California’s most prestigious locations including Orange County, Los Angeles, Silicon Valley and San Diego. The company’s long-term ownership and reinvestment philosophy ensures companies operate in buildings maintained to the highest levels possible. It also assures a rare environment of stability, consistency and on-going quality with unmatched, comprehensive customer service.