Heitman inks 60K sf lease for HQ at Bank of America Tower

Chicago /
Mar.March 24, 2020 10:33 AM
A rendering of Bank of America Tower (Credit: Riverside Investment & Development)

A rendering of Bank of America Tower (Credit: Riverside Investment & Development)

Real estate investment firm Heitman has inked a lease for 60,000 square feet at Riverside Investment & Development and Howard Hughes’ under construction office tower near Union Station.

Heitman will relocate its headquarters to the 55-story Bank of America Tower at 110 North Wacker Drive, according to Crain’s. It will occupy two floors at the 1.5 million-square-foot tower, which is expected to open in the fall. Heitman will move into the building in late 2022, according to the report.

Heitman occupies a similar amount of space in the 37-story tower at 191 North Wacker Drive, a block away. A venture of U.S. affiliates of insurance company Allianz and Manulife Financial owns 191 North Wacker. It is also losing its biggest tenant, law firm Faegre Drinker, which announced in February that it would move to Bank of America Tower.

With the latest lease, the Riverside Investment and Howard Hughes tower is already 75 percent leased ahead of its opening, Crain’s reported. Howard Hughes is trying to sell its stake in the $722 million project.

The developers of the Bank of America Tower have drawn many of its tenants from other neighboring properties, including its anchor tenant, Bank of America, and law firms like Jones Day, Morgan Lewis & Bockius, Perkins Coie and King & Spalding. [Crain’s] — Brianna Kelly


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