{"id":1004188913,"date":"2017-08-29T06:58:26","date_gmt":"2017-08-29T14:58:26","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004188913"},"modified":"2022-12-08T04:02:11","modified_gmt":"2022-12-08T12:02:11","slug":"savills-studley-negotiates-office-expansions-in-chicago","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/savills-studley-negotiates-office-expansions-in-chicago\/","title":{"rendered":"Savills Studley Negotiates Office Expansions in Chicago"},"content":{"rendered":"<p>By Roxana Baiceanu<\/p>\n<div id=\"attachment_1004188919\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/Two-Prudential-Plaza-Chicago.png\" target=\"_blank\" rel=\"noopener noreferrer\"><img decoding=\"async\" aria-describedby=\"caption-attachment-1004188919\" data-attachment-id=\"1004188919\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/savills-studley-negotiates-office-expansions-in-chicago\/two-prudential-plaza-chicago\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/Two-Prudential-Plaza-Chicago.png\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Two Prudential Plaza, Chicago\" data-image-description=\"&lt;p&gt;Two Prudential Plaza, Chicago&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Two Prudential Plaza, Chicago&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/Two-Prudential-Plaza-Chicago.png?w=800\" loading=\"lazy\" class=\"wp-image-1004188919 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/Two-Prudential-Plaza-Chicago.png\" alt=\"Two Prudential Plaza, Chicago\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/Two-Prudential-Plaza-Chicago.png 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/Two-Prudential-Plaza-Chicago.png?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/Two-Prudential-Plaza-Chicago.png?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004188919\" class=\"wp-caption-text\">Two Prudential Plaza, Chicago<\/p><\/div>\n<p>Savills Studley brokered two office expansions on behalf of Ryan Specialty Group and one of its subsidiaries, RT Specialty. Following the necessary improvements, RSG will occupy 32,495 square feet at Two Prudential Plaza, while RT Specialty conduct its operations in a\u00a038,000-square-foot space at 500 W. Monroe.<\/p>\n<p>Robert Sevim, executive vice president with Savills Studley, and Adam Southard, managing director, closed on the transactions on behalf of the tenants. Two Prudential Plaza\u2019s owner, 601W Cos., was represented by Telos Group\u2019s Senior Vice President Bill Truszkowski. Senior Vice Presidents Mark Georgas and Gary Kostecki of JLL represented Piedmont Realty Trust, the owner of 500 W. Monroe.<\/p>\n<h2>Gradual expansion<\/h2>\n<p>The companies have been tenants of the two\u00a0towers for several years, but opted to wait until more space became available instead of relocating. The reason is that office space in East Loop high-rises has been scarce, Sevim explained in a prepared statement.<\/p>\n<p>RSG first moved to Two Prudential Plaza\u2019s 45th floor in 2013 and expanded its office space twice since. The tower, which was renovated in 2016, offers on-site food service, a fitness center and a parking garage. Tenants can also enjoy views of Lake Michigan, Millenium Park and the city skyline.<\/p>\n<p>For RT Specialty this was the second office expansion at the Skidmore, Owings &amp; Merrill building since 2014. The high-rise is currently undergoing renovations, but tenants can still\u00a0use the on-site fitness center, bike room, caf\u00e9 and parking garage.<\/p>\n<p>RT Specialty\u00a0also worked with Savills Studley, which has a solid reputation for helping companies ink <a href=\"https:\/\/www.commercialsearch.com\/news\/goodwin-leases-80k-sf-at-dc-trophy-building\/\">leases in trophy buildings<\/a>, to renew the lease of its 46,654-square-foot Kansas City office.<\/p>\n<p><em>Image courtesy of Yardi Matrix<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The company closed on two leases for Ryan Specialty Group and one of its subsidiaries, RT Specialty. The offices are located at Two Prudential Plaza and 500 W. Monroe.<\/p>\n","protected":false},"author":1064,"featured_media":1004188919,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,1491,21743,21782,13,21742,21747],"tags":[32796,34703,32775,34217,34092],"class_list":["post-1004188913","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-chicago","category-deals","category-development","category-midwest","category-latest","category-office","tag-jll","tag-piedmont-office-realty-trust","tag-savills-studley","tag-the-601w-companies","tag-the-telos-group-llc"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Savills Studley Negotiates Office Expansions in Chicago - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/savills-studley-negotiates-office-expansions-in-chicago\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Savills Studley Negotiates Office Expansions in Chicago\" \/>\n<meta property=\"og:description\" content=\"The company closed on two leases for Ryan Specialty Group and one of its subsidiaries, RT Specialty. 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