Equity Office Announces 74,450-Square-Foot Office Lease With Gartner At River North Point In Chicago
PR Newswire 15-Feb-2018 9:00 AM
CHICAGO, Feb. 15, 2018 /PRNewswire/ --Equity Office, the U.S. office portfolio company wholly-owned by Blackstone's real estate funds, announced today that Gartner, Inc. (NYSE: IT), the world's leading research and advisory company, will be moving its Midwest operations to River North Point at 350 North Orleans Street.
With a total of 74,450 square feet of office space, Gartner will occupy two floors of the building with its 650 employees. The company plans to move from its current location at 200 West Jackson to River North Point in Summer 2018.
This move is a result of Gartner's 2017 acquisition of CEB, the industry leader in best practice and talent management insights, as it works toward consolidating and uniting the two companies' Midwest operations.
"Our redevelopment and transformation of River North Point is creating a modern employment hub with an unbeatable combination of amenities, location and floorplates - where employees want to be," said David Moore, Senior Vice President Portfolio Director, Equity Office. "We are excited to welcome an innovative and industry leading company like Gartner to our building, as a direct result of the vision we are executing, and we look forward to providing a space and place that helps their company and employees thrive."
Gartner will have access to the building's more than 25,000 square feet of tenant-only amenity space that includes a 10,000+ square-foot high-end fitness center with club-like programming, a newly landscaped rooftop deck and a brand new 10,000 square-foot tenant lounge and conference facility. In addition, the building is implementing a state-of-the-art secure access system as part of the overall redevelopment plan.
Mike Kazmierczak, Ron Lakin and Ellen Zalatoris of CBRE represented Equity Office in the transaction. Matt Carolan and Christine Bower of Jones Lang LaSalle represented Gartner.
Blackstone acquired the iconic River North Point building in 2015. Originally built in the mid-1970s, River North Point was the center of Chicago's apparel industry and host to the world's largest collection of apparel showroom space. The award-winning property has since been repositioned for a variety of office and creative use tenants and is currently being redeveloped. Located on bank of the Chicago River, River North Point provides views of the river to the south and west, and views of the Chicago skyline. The building's premier location offers access toCTA train and bus lines,commuter rail stationsand the Kennedy Expressway (I-90/94). A glass-enclosed skywalk connects the property to the Merchandise Mart, providing direct access to theCTA station, underground parking, restaurants and retail amenities located within the Merchandise Mart.
About Equity Office The Equity Office portfolio, encompassing approximately 47 million square feet of Class A office space throughout the U.S., is rich with signature properties in the nation's leading gateway markets. The company focuses heavily on meeting the current trends and changing strategic needs of companies and our chosen markets. With an average tenure of over 25 years in the real estate industry, our regional leaders also head teams with deep experience across the board from investment and asset management, to property management, development and construction. As an affiliate of Blackstone, a pre-eminent global asset manager providing significant financial strength and long-term stability, we are extremely well capitalized. Please visit www.equityoffice.com for more information.
About Gartner Gartner, Inc. (NYSE: IT), is the world's leading research and advisory company and a member of the S&P 500. We equip business leaders with indispensable insights, advice and tools to achieve their mission-critical prioritiesand build the successful organizations of tomorrow. Our unmatched combination of expert-led, practitioner-sourced and data-driven research steers clients toward the right decisions on the issues that matter most. We're trusted as an objective resource and critical partner by more than 12,000 organizations in more than 100 countriesacross all major functions, in every industry and enterprise size. To learn more about how we help decision makers fuel the future of business, visit gartner.com.
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SOURCE Equity Office