A Fresh Take on CRE

Chicago Deal Highlight: Tenants Flock To 350 North Orleans

From time to time, we like to highlight recent deals from the CompStak database that we find interesting. We hope you will find the information helpful.
   







3500 Parkway Lane in Norcross




Tenants Flock To 350 North Orleans

Shorenstein-owned River Point North, located at 350 North Orleans Street, has landed several new tenants this quarter from a wide range of industries. A software company, a medical engineering group and finance firm have all leased a collective 72,000+ square feet in the building this quarter. All three were long leases (10+ years) with starting rents in the mid-$30s. However, despite the strong quarter, Shorenstein still has work to do. A Chicago-based newspaper exercised a termination option earlier this month that will set the stage for the company to vacate its 126,000 square feet in the building by the end of the year.