News
IBM Tower’s New $200M Lease on Life
September 5, 2012
Besides its iconic Mies van der Rohe architecture, the tower he designed for IBM in ’71 has an irresistible lure that recently qualified it for a $200M re-fi, says its landlord, Prime Group Realty Trust CEO Jeff Patterson (standing second from right, with his team). After nearly four years of repositioning, 330 N Wabash Ave (jointly owned with Five Mile Capital) has leased about 500k SF of offices, bringing it from 35% leased to 88%, Jeff tells us. | |
Star signatories: the AMA for 300k SF, Latham & Watkins for 143k SF, and Smith Bucklin for 111k SF. |