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| UBS to renew lease at Hines' One North Wacker in Chicago In what is expected to rank as one of the largest real estate transactions of the year in downtown Chicago, financial services firm UBS renewed their lease for 400,000 square feet at One North Wacker Drive, and will remain the lead tenant at its namesake tower. Located in the West Loop, the 51-story, 1.4-million-square-foot office tower is 98 percent leased. The building was completed in 2001 and was acquired in 2008 by a subsidiary of the Hines U.S. Core Office Fund LP. Hines leases and manages the property. The UBS lease renewal will start in 2012 and encompasses 13 floors, according to Tom D'Arcy, a senior vice president at Hines' Chicago regional office. The UBS office at One North Wacker, with a staff count of some 1,200 employees, is part of the Zurich-headquartered firm's global network of main offices in major financial centers. UBS will relocate its operations currently housed at 181 W. Madison Street to One North Wacker. write your comments about the article :: © 2010 Construction News :: home page |