Lenders and investors, more eager than ever to participate in a new downtown office development, are reducing their pre-leasing requirement to 45% from 60% just six months ago, says Alter’s Matt Ward, who’s now searching for a tenant to anchor a new tower at 625 S Adams. Financing sources see that more big companies want to relo from the ‘burbs to downtown, but there are only a handful of large blocks to accommodate them. That’s what's motivating Alter to develop the $150M office building, he tells us. |
The Next West Loop Tower
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