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500 W MONROE HOMECOMING

500 W MONROE HOMECOMING
500 West Monroe, Chicago
On Friday, Piedmont Office Realty Trust's Joe Pangburn told us GE Capital's renewal and expansion at 500 West Monroe is a homecoming of sorts. The financial firm acquired Heller Financial in 2001, and Heller was actually the skyscraper's first anchor 20 years ago. Joe says GE's current lease ends Nov. 30, 2012, and its 15-year renewal of 292k SF begins Dec. 1, 2012 and it is obligated to lease 79k more by Dec. 1, 2014. Joe says Piedmont is more than happy to grant that later start date in order to have the space spoken for. Piedmont got the building in March when it foreclosed as the mezz lender. Cushman & Wakefield's Jeffrey Samaras and Kent Ilhardt repped GE, and JLL's Steve Smith, Gary Kostecki, and Brad Despot repped Piedmont.
WASHINGTON DC 05.16.2017

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