– Avison Young has been named the exclusive leasing agent for River North Point, the 1.2 million-square-foot building at 350 N. Orleans St., Chicago.
Shorenstein Properties LLC has named Michael Curran, Brad Despot and Eric Myers, Avison Young Principals based in Chicago, as the leasing representatives. The addition of this building represents a significant building block for Avison Young’s Chicago area leasing portfolio.
River North Point, developed in 1977, is a 13-story, 1.2 million-square-foot office building. River North Point currently has 220,000 square feet of space available, of which the largest contiguous space totals 87,000 square feet. The building offers 87,000-square-foot floor plates.
These extra large floor plates offer tremendous flexibility and can accommodate a wide range of business needs. Other tenants of the building include businesses in the financial, creative, educational, media and technology industries. Major tenants of the River North Point include WPP, AT&T and the Chicago Sun Times.
“Shorenstein Properties has made a significant commitment to repositioning and enhancing this key River North property,” Curran said. “We think there are great opportunities to increase occupancy in the building and bring in businesses that are a driving force in today’s economy.”
Shorenstein, which acquired the building in early 2012, is undertaking a major renovation of the interior space, including the lobby and common areas. The changes are scheduled for completion by year end and are designed to enhance the overall tenant experience.
Said Shorenstein Senior Vice President Kevin Kuzemchak, “as we near completion on a two year capital plan to reposition River North Point, Shorenstein is excited at the prospect of partnering with the Avison Young team to capitalize on the momentum we hope will be created after a nearly $15 million dollar investment in the building since acquisition. Brad, Mike and Eric are provenproducers in the Chicago market and we look forward to a successful relationship with them as we market a repositioned dynamic asset.”
The building is located in the heart of the popular River North submarket, which is known for its desirable mix of vibrant entertainment, restaurant and retail businesses. The location provides an enticing working environment and is a natural draw for technology, media and other companies that are active in today’s economy.