PGIM Real Estate is renovating four office suites on the 21st floor at its 55 East Monroe Street office tower.
New Jersey-based PGIM, formerly Prudential Real Estate Investors, received a city building permit late last month to build out four adjoining office suits at the 49-story building, according to city records.
Plans call for the renovation of suites 2100, 2110, 2120 and 2140, according to the permit. One of those offices — the 44,000 square foot suite 2100 — is occupied by tenant HealthScape Advisors, according to the company’s website.
A spokesperson for PGIM declined to comment on plans for the floor.
PGIM bought the 1.5-million-square-foot tower for more than $370 million in 2014. It was acquired from a venture of Walton Street Capital and Glenstar Properties, which had bought the building in 2005 for $239 million.
The Downtown Chicago office market has added nearly 20,000 new private sector employees, thanks in part to corporate relocations and a healthy economy. The new office deliveries and the trend of office consolidation kept absorption and vacancy rates flat at the end of 2018.