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Salesforce in talks to lease 500K sf at planned Wolf Point office tower
The software company is considering an expansion that would include 5,000 more employees
Salesforce is in talks to lease 500,000 square feet or more in a new office tower planned for Wolf Point at the confluence of the three branches of the Chicago River.
The San Francisco-based software giant is pondering an expansion of as many as 5,000 employees here that would require tripling its Chicago office space, according to Crain’s.
The firm, which now houses its 1,000 Chicago employees in 117,000 square feet at 111 West Illinois Street, is negotiating with Wolf Point developers Hines Interests and the Kennedy family, but also trying to secure a $10 million tax break and signage concessions from the city.
Salesforce’s demands include a video wall on the outside of the Wolf Point building, something prohibited by a city ordinance drawn up after the controversy over the “Trump” name on the outside of the Trump International Hotel & Tower.
Spokespeople for Salesforce, Hines and the city all declined comment to Crain’s.
Hines and Salesforce already have a relationship, with the Houston-based developer recently completing the company’s 61-story tower in San Francisco.
The 950-foot Wolf Point South office high-rise would be the third building in the developers’ riverfront project along with two much shorter luxury apartment towers.
Salesforce’s Chicago expansion would follow other big leases by tech companies in the city recently. The John Buck Company already signed Facebook to a 263,000-square-foot lease in its recently completed CNA Center and Google is looking to add another 100,000 square feet of office space in Fulton Market. [Crain’s] — John O’Brien