Telecom Firm Moves HQ to 222 S. Riverside Plaza With 13,586-SF Lease
29 Apr, 2010, Chicago
Peerless Network, Inc., a telecommunications firm, will move its corporate headquarters from the Loop to the West Loop following a 13,586-square-foot sublease of space at 222 S. Riverside Plaza.
Alex Smith and Jordan Rovito of Cushman & Wakefield represented the company in the transaction. Financial terms of the deal were not disclosed.
Peerless is relocating from 225 W. Washington St., where it currently leases 9,235 square feet.
The new building, a 35-story, 1.2 million-square-foot, Class-A office complex owned by Behringer Harvard, is located on the west bank of the Chicago River directly above Union Station and adjacent to Northwestern Station. The building's close proximity to these and other transportation hubs has made it a popular choice for a wide variety of high-quality tenants from a broad range of industries since it opened in 1971. It is also known at Gateway Plaza II.
"Peerless was looking to upgrade their space to a high-profile location with great access to public transportation," said Smith, a Cushman & Wakefield senior director. "222 S. Riverside Plaza has one of the highest occupancy rates in the city and for good reason. It has great amenities, beautiful views and one of the most convenient locations that a tenant could ask for. We were pleased to help match Peerless Network with this space, which will serve them well as they continue to grow."
Peerless is subleasing the space (fully furnished) from R.J. O'Brien & Associates, LLC, a commodity futures trading firm. R.J. O'Brien was represented in the transaction by Richard Schuham and Marc Brash of Studley.
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