News
WILLIS TOWER TO BE RENAMED
April 1, 2010
| In a stunning development only a year after Sears Tower was renamed for London-based insurance broker Willis Group Holdings, Willis has in turn surrendered naming rights to a Champaign, Il-based chain of franchised sandwich restaurants. As of today, the 108-story skyscraper will be known as Jimmy John Tower. | |||
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| The deal developed after Willis decided that with the popularity of the new Skydeck glass observation platform, innovative food options would be able to capitalize on increased pedestrian traffic, and revenues could help defray the higher cost of insurance that even Willis faces for the daredevil new glass ledge suspended from the 103rd floor. Although Jimmy John's needed under 2,000 rentable SF, it is so popular and had so many competing offers from nearby venues that, according to sources, it insisted on naming rights as part of its arrangement and almost immediately won that concession. | |||
