Newly redeveloped 1 South Wacker closes 2021 with over 200,000 RSF signed
The newly refurbished 1 South Wacker experienced considerable rental momentum in 2021 despite the pandemic and the general downturn in the office rental market, with 150,000 RSF in new transactions and over 200,000 RSF in total rental. 1 South Wacker’s remarkable leasing comes after a year of uncertainty for commercial office space and reinforces the continued flight of tenants to quality, further qualifying 601 W Companies’ $ 30 million investment in building .
“1 South Wacker’s fantastic rental year was due to renovations creating a tenant experience that exceeds expectations on Wacker Drive while delivering great value at the same time,” said Nikki Kern, Executive Vice President of The Telos Group , LLC (Telos).
1 South Wacker, built in 1982, is a Class A building in the heart of the West Loop. Its location is easily accessible for commuters of the L and Metra trains. The 1.2 million square foot building opened its new amenities package earlier this year, as part of its repositioning that includes a new high-quality fitness center, a gorgeous rooftop terrace, and a spacious living room. for tenants in a 3-story vaulted all-glass atrium.
Tenants who signed new building agreements this year include Gogo Aviation, CohnReznick, Quinnox, Quadient, BAL Global, 3Q Digital, Blue River Petcare and many more. Now, 1 South Wacker has two large blocks of space remaining, 140,000 RSF and 160,000 RSF, a rarity in the West Loop.
“It is a combination of location, quality of office space and investment in tenant equipment that has made for such a successful year,” said JD Parcheta, Director of Leasing at Telos. “Buildings like 1 South Wacker offer employers the opportunity to give their employees a reason to come back to the office.
Nikki Kern and JD Parcheta represented the trading property at 1 South Wacker.