Spec Loop office project developers land White Claw producer as latest tenant

But Moceri + Roszak still has more than 150K sf of space to lease at 145 S. Wells during a recession

Chicago /
May.May 13, 2020 10:13 AM
 Thomas Roszak and 145 S. Wells (Credit: Cgarner123 via Wikipedia and 145 South Wells)

Thomas Roszak and 145 S. Wells (Credit: Cgarner123 via Wikipedia and 145 South Wells)

In 2018, multifamily developers Dan Moceri and Thomas Roszak decided the risk was worth it.

With an ultra-rare vacant plot in the heart of the Loop, the architect-development team pulled the trigger on constructing a 20-story office building entirely on spec. Despite the overall strength of the downtown office leasing market, the developers only landed one tenant for 145 S. Wells St., inking shared office space provider Firmspace to a 35,000-square-foot deal earlier this year.

And now, with the economy all but shut down and prognosticators foretelling a commercial real estate crash, Moceri + Roszak has signed a lease deal for 12,600 square feet with Mark Anthony Brewing, according to Crain’s.

The company, which produces White Claw hard seltzer and claimed a projected $4 billion in revenue for 2020, provides a glimmer of hope for the developers, which acquired the site for $7.1 million in November 2016 and later landed a $71 million construction loan from pension fund manager Multi-Employer Property Trust.

According to Crain’s, Moceri + Roszak must fill more than 75 percent of the 210,000-square-foot building during a recession, with competition coming from other new product downtown as well as a growing sublease market.

Mason Taylor and Chris Cassata of JLL represented the owners in the Mark Anthony lease. [Crain’s] — James Kleimann


Related Articles

arrow_forward_ios
TTX Company CEO Thomas Wells and 101 North Wacker Drive (Google Maps)

Off the rails: Freight train provider lists West Loop HQ for sublease

Off the rails: Freight train provider lists West Loop HQ for sublease
HNA Group Founder Chen Feng and 181 West Madison Street (Getty, Google Maps)

Here’s what tenants pay at HNA’s 1M sf Loop office tower

Here’s what tenants pay at HNA’s 1M sf Loop office tower
Aon Center (Google Maps)

Here’s what tenants pay at 601W Cos.’ Aon Center

Here’s what tenants pay at 601W Cos.’ Aon Center
The Old Post Office (Google Maps)

Here’s what tenants pay at 601W Cos.’ Old Post Office

Here’s what tenants pay at 601W Cos.’ Old Post Office
Deutsche Finance America managing partner Jason Lucas and Michael Shvo, with 333 South Wabash

What tenants are paying at Shvo and Deutsche Finance’s “Big Red” building

What tenants are paying at Shvo and Deutsche Finance’s “Big Red” building
The suburban office market saw a slight rise in second quarter vacancy rate

Suburban office market vacancy rate nudges up

Suburban office market vacancy rate nudges up
Somerset Development President Ralph Zucker and renderings of Bell Works Chicagoland

The suburban office market is making a comeback

The suburban office market is making a comeback
353 N. Clark with Chester Kamin of Jenner & Block (Google Maps)

Actually, you owe us money: Chicago law firm fires back at landlord

Actually, you owe us money: Chicago law firm fires back at landlord
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...