Newmark Finalizes Deal To Relocate Chicago Office To Salesforce Tower
Newmark will relocate its Chicago office to the 57-story Salesforce Tower Chicago, finalizing an agreement to lease 24K SF on the 22nd floor of the trophy skyscraper.
The brokerage intends to move into the new space at 333 W. Wolf Point Plaza in early 2026, Jesse Van Dyke, an executive vice president and regional market leader at Newmark, told Bisnow.
“We wanted to identify a space that reflects where we're going and where we’re taking our business,” Van Dyke said. “This is a top building in the market, and we wanted to align ourselves and move into a building that has the best amenities, the best views, to reward our people that work here.”
Newmark is in the process of designing the build-out for the raw space. The brokerage is planning on an “ample amount” of collaboration space and multiple conference centers, Van Dyke said.
The tower is at the stretch of the Chicago River where both of its branches meet, and Van Dyke said it would be hard to find better views of the city.
The owners of the 1.2M SF tower, including Hines and members of the Kennedy family, reached a refinancing deal for $610M in long-term debt in March. The tower opened in May 2023 and as of March was more than 95% leased to two tenants: Salesforce and Kirkland & Ellis.
Van Dyke declined to comment on plans for Newmark’s current space at 500 W. Monroe St. or the terms of its deal at Salesforce Tower.
Van Dyke formally announced the move to staffers a few weeks ago, and Newmark has done two tours of the space so employees could see the new office.
“People are very excited about the move and being able to work in a top-class building in the market,” Van Dyke said.
Class-A space has leased up more consistently than its Class-B counterparts: Class-A buildings posted a 19% vacancy rate in Q2, compared to 31% for Class-B properties, according to a Colliers report. 500 W. Monroe was completed in 1992 but is undergoing renovations on a new amenity level, including a tenant lounge and food service, according to the building’s website.
