330 N. Wabash Gets New Tenant; Suburban Baker Hill Center Acquired by REIT

By Gabriel Circiog, Associate Editor

The landmark 330 N. Wabash is welcoming a new tenant, as Creative Circle LLC has signed a lease for 7,128 square feet on the 14th floor of Prime Group Realty Trust’s office building. The staffing firm has agreed to a five and a half-year lease beginning on March 1, 2013.

“We are pleased to announce the relocation of our Chicago office to 330 North Wabash Avenue,” said Kevin Yoshimoto, chief financial officer of Creative Circle. “The quality of the office space and the amenities that the building is providing pursuant to its current ongoing redevelopment, as well as its convenient River North location on the Chicago River, made it the top choice for our relocation.”

Designed by famed architect Mies van der Rohe and finalized in 1971, 330 North Wabash Avenue is owned by a joint venture between Chicago-based Prime Group Realty Trust and Connecticut-based Five Mile Capital Partners LLC.

PGRT is the property and redevelopment manager and leasing agent for the building. Allen Rogoway of Cresa Partners Chicago LLC and Carlo Brignardello of Cresa Partners Los Angeles represented Creative Circle LLC in its search. PGRT was represented by its executive vice president of leasing, Steven R. Baron.

A new five-star 316-room Langham Chicago Hotel is scheduled to open in the second quarter of 2013 on floors 2 through 13 of 330 North Wabash. A 5,000-square-foot state-of-the-art fitness center, food service café and conference center are also under construction for the benefit of all tenants, in addition to other ongoing renovations.

In other local real estate news, Phillips Edison-ARC Shopping Center REIT Inc. announced it has closed on the purchase of Baker Hill Center, a grocery-anchored shopping center in Glen Ellyn, Ill. Situated in the western suburb of Chicago, the 135,355-square-foot shopping center is 98.2 percent occupied and anchored by a 72,397-square-foot Dominick’s grocery store. Dominick’s is the second-most highly ranked traditional grocer by market share in Chicago.

Photo Courtesy of: www.330northwabashavenue.com