CHICAGO, IL--(Marketwired - Jun 13, 2014) - Extending its long-standing commitment to the city of Chicago, the commercial real estate firm JLL (
JLL has signed a letter of intent with Piedmont Office Realty Trust to extend its current 165,000-square-foot lease once its existing lease expires in 2017. The agreement also provides flexibility for JLL to expand its space as needed over the term of the lease to accommodate growth.
Additionally, JLL and Piedmont are expected to begin work later this year on a complete overhaul of JLL's space into one that is more open, flexible, collaborative and integrated with technology. The first group of employees should move into the new space by mid-2015 with all remaining groups in place by mid-2016.
Piedmont is also committed to a capital improvement program that will include renovations to the building's lobbies, common areas, retail arcade and fitness center.
"Of all of the options that we considered, Aon Center is best suited for our employees and the way they work and gives us the best opportunity to implement the newest, best-in-class workplace designs," said JLL Americas CEO Greg O'Brien. "Moreover, the East Loop is easily accessible and provides the kinds of world-class amenities our employees told us they value. We are confident that staying in Chicago, in the East Loop, and, specifically, at Aon Center will best enable JLL's next generation of growth."
JLL Managing Directors Jeff Liljeberg, Rob Schmidt and Michael Sessa are representing the firm in its final lease negotiations. JLL Managing Director Steve Smith and Vice President Mark Georgas are representing Piedmont.
About JLL
JLL (
Contact: Ed Fanselow Phone: +1 312 228 3170 Email: ed.fanselow@am.jll.com Gayle Kantro Phone: +1 312 228 2795 Email: Gayle.kantro@am.jll.com
