CIM Group signs Chicago Trading to expanded lease

The deal gives the trading firm 114K sf in CIM Group’s 425 South Financial Place

TRD CHICAGO /
Jul.July 23, 2018 09:00 AM

CIM Group’s Shaul Kuba and 425 South Financial Place (Credit: CIM Group and JLL)

CIM Group inked Chicago Trading to a lease extension that will see the firm add 27,000 square feet to its space at 425 South Financial Place.

The deal will give the proprietary trading firm a total of 114,000 square feet at CIM’s 39-story office tower, also known by the address 440 South LaSalle Street, according to Crain’s.

Los Angeles-based CIM bought the 1 million-square-foot building in 2016 for $189 million, financing it with a $131 million loan, according to Cook County records. The firm is renovating it and rebranding it with the new Financial Place address, though it declined to say how much it is spending on the overhaul.

The building was 72 percent leased when CIM Group bought it, according to brokerage CBRE, which represented Chicago Trading in the lease renewal. The overall office occupancy rate Downtown is 87 percent.

Chicago Trading signed a 12-year lease in the building in 2010, taking over the two-level trading floor that previously housed the Chicago Stock Exchange, according to Crain’s.

Mark Keebler and Brad Serot of CBRE represented Chicago Trading in the lease. Mike Curran of Jones Lang LaSalle represented CIM Group.

CIM is partnering with Golub & Company on a massive overhaul of the former Tribune Tower that includes plans to build the city’s second tallest building. [Crain’s] — John O’Brien

 

Related Articles

arrow_forward_ios
Former NFL player Israel Idonije and 200 W. Madison St. (Credit: Getty Images, Google Maps)

Former Chicago Bear launches 1871-styled incubator with insane lease rates

Sterling Bay’s Andy Gloor and renderings of 333 North Green Street (Credit: Sterling Bay)

Sterling Bay’s new Fulton Market HQ is a Sterling Bay construction

Marquee at Block 37 with CIM Group’s Shaul Kuba and Morguard CEO Rai Sahi

Morguard buys out CIM’s stake in massive luxury Loop apartment complex

1000 and 1100 E. Warrenville Road (Credit: iStock)

This developer is willing to take a loss on a Naperville office complex

From left: A rendering of Related Midwest's skyscraper and a rendering of Golub and CIM Group's skyscraper (Credit: Related Midwest and Golub and CIM Group)

As a skyscraper proposal nears approval in Streeterville, another is still at a halt

PepsiCo CEO Ramon Laguarta and WeWork CEO Adam Neumann with the Old Post Office (Credit: Getty Images)

Space race: WeWork, PepsiCo may take a combined 320K sf at 601W Companies’ Old Post Office

IBT Group’s Gary Pachucki and renderings of Humboldt Lit (Credit: LinkedIn and IBT)

The New Fulton Market? Local developer puts $50M bet on Humboldt Park

Tucker Development CEO Richard Tucker and 954 West Washington Boulevard (Credit: Tucker Development, Lindon Associates)

Tucker Development is latest company to move to Fulton Market

arrow_forward_ios