CareerBuilder is nearing a deal to move into 100,000 square feet at 300 South Riverside Plaza in the West Loop.
The online job site will shift from its current home at 200 North LaSalle Street, cutting back from the 162,000 square feet it rents there, according to Crain’s.
The lease with CareerBuilder would be a victory for Third Millennium Properties — which owns the 23-story tower — after it lost anchor tenant JPMorgan Chase two years ago. Since then, Third Millennium has put millions of dollars into renovating the building and signing Cars.com, 1WorldSync and Pepod to big leases.
CareerBuilder is set to take two floors at the building, which posted net operating income of $10.1 million in 2017, up from $9.9 million in 2016, according to a Bloomberg report tied to a loan on the building.
Matt Pistorio and Joy Jordan of Chicago-based Telos Group are representing the landlord, and Vineet Sahgal and Meredith O’Connor of JLL are representing CareerBuilder in the 300 South Riverside deal.
Even after taking less space, CareerBuilder’s deal will likely rank among the biggest leases so far this year.
And it would signal continued interest in locations along the South Branch of the Chicago River, which is poised to explode with office space, including the massive Old Main Post office redevelopments and back-to-back-to-back mega developments farther south: Lendlease’s Southbank, CMK Companies’ Riverline and Related Midwest’s The 78. [Crain’s] — John O’Brien