Chicago-based private equity firm CIVC Partners has signed a 12,218 sq. ft. office lease at 191 North Wacker Drive in Chicago. Once finalized, the company’s lease will increase the occupancy of the West Loop building to 90%. CIVC Partners plans to occupy the space by November after it has relocated its offices from 231 South La Salle Street.
The 37-story, Class-A building has 735,000 sq. ft. of rentable space. The property, which was completed in 2002, is part of Texas-based Hines’ 9 million sq. ft. Chicago office portfolio. The company owns the building through a partnership with California Public Employees’ Retirement Systems (CalPERS).
Cushman & Wakefield acted as CIVC’s agent in the long-term lease transaction. This spring, Hines has already signed leases at the building totaling 30,032 sq. ft. with several other tenants, including Chicago Underwriting Group Inc., Daniels & King Management Co. and Michael Page International Inc.