Pinterest has signed a leasing agreement with Ivanhoé Cambridge and Hines for space at 10 and 120 S. Riverside Plaza, a two-building office complex in Chicago’s West Loop. The popular social media company will occupy 24,000 square feet at the Class A campus, joining a roster of prestigious tenants.
This lease agreement is part of a series of new deals that have been signed at the property in recent months, totaling 75,000 square feet. Attorney’s Liability Assurance Society and Syska Hennessy Group have also committed to space at the office campus. The property has seen a significant amount of leasing activity over the past year, with approximately 156,000 square feet of new leases and renewals.
Ivanhoé Cambridge has owned the office campus since 2013 and Hines manages the property. The campus is currently undergoing a $75 million redevelopment strategy, which includes expanding the lobby, adding monument signage, upgrading the plaza, and enhancing amenities such as a fitness center and conference center. The redevelopment is expected to be completed by the end of 2024.
Located across the Chicago River, the office complex is conveniently situated near public transportation and airports, making it easily accessible for tenants and visitors. Chicago’s office leasing market continues to offer affordable rental rates compared to other major cities in the U.S. In January, there were several notable lease signings in the area, demonstrating the continued demand for office space in the city.
The addition of Pinterest to the tenant roster at 10 and 120 S. Riverside Plaza reflects the attractiveness of the office campus and its ongoing commitment to providing high-quality space for businesses in Chicago’s West Loop.
Frequently Asked Questions (FAQ)
1. What is the leasing agreement that Pinterest has signed?
Pinterest has signed a leasing agreement with Ivanhoé Cambridge and Hines for space at 10 and 120 S. Riverside Plaza, a two-building office complex in Chicago’s West Loop.
2. How much space will Pinterest occupy at the office complex?
Pinterest will occupy 24,000 square feet at the Class A campus.
3. Which other companies have recently signed leasing agreements at the property?
Attorney’s Liability Assurance Society and Syska Hennessy Group have also committed to space at the office campus.
4. How much leasing activity has the property seen over the past year?
The property has seen approximately 156,000 square feet of new leases and renewals over the past year.
5. Who owns the office campus and who manages it?
Ivanhoé Cambridge has owned the office campus since 2013, and Hines manages the property.
6. What redevelopment strategies are being implemented at the campus?
The campus is undergoing a $75 million redevelopment strategy, which includes expanding the lobby, adding monument signage, upgrading the plaza, and enhancing amenities such as a fitness center and conference center.
7. When is the redevelopment expected to be completed?
The redevelopment is expected to be completed by the end of 2024.
8. What are the advantages of the office complex’s location?
The office complex is conveniently located near public transportation and airports, making it easily accessible for tenants and visitors.
9. How does Chicago’s office leasing market compare to other major cities in the U.S?
Chicago’s office leasing market continues to offer affordable rental rates compared to other major cities in the U.S.
10. What does Pinterest’s addition to the tenant roster reflect?
The addition of Pinterest to the tenant roster at 10 and 120 S. Riverside Plaza reflects the attractiveness of the office campus and its commitment to providing high-quality space for businesses in Chicago’s West Loop.
Definitions:
– Class A campus: A high-quality office building that is well-located and professionally managed.
– Leasing activity: The number or amount of leasing transactions that occur in a specific property or market.
– Redevelopment: The process of improving and renovating a property to enhance its value and appeal.
– Rental rates: The cost of renting or leasing space, usually expressed on a per-square-foot basis.
Related Links:
– Ivanhoé Cambridge
– Hines
– Chicago Department of Planning and Development
The source of the article is from the blog yanoticias.es