Ivanhoé Cambridge and co-investor and developer Hines, announced today that the law firm of DLA Piper has signed a lease to relocate its Chicago office to River Point at 444 W. Lake Street in Chicago’s West Loop area.
DLA Piper has leased approximately 175,000 square feet of office space on levels 9-16 in River Point and will move to their new space in early 2017. Designed to meet all the needs of a 21st-century law firm, the 52-story, 1.05 million square foot building will offer world-class architecture and first-class amenities, including a 1.5-acre public park and landscaped river walk, retail shops, a fitness center and extraordinary views of the Chicago River. The building has been designed to achieve LEED Gold.
“We are excited to move into this state-of-the-art building in a great location on the Chicago River. Our new offices will reflect the firm’s global brand and provide a highly efficient, modern environment in which to serve our clients,” said David Mendelsohn, managing partner of DLA Piper’s Chicago office.
“While we are developing a modern world-class office project, it is the tenants that truly make the building great. Adding one of the largest law firms in the world to our tenant mix is further evidence of how River Point will be viewed in Chicago,” remarked Greg Van Schaack, Hines senior managing director overseeing the River Point project.
“We congratulate DLA Piper on choosing River Point, which promises to be a real game-changer in Chicago’s West Loop,” declared Arthur Lloyd, Executive Vice-President, Global Investments at Ivanhoé Cambridge. “Offering ultra-modern facilities and a fantastic location, its leasing success is now setting the trend in top-quality office space in Chicago.”
DLA Piper was represented in the transaction by Jones Lang LaSalle (Steve Stratton, Bill Rogers, Rob Copito and Phil Leibow) and Cushman & Wakefield (Mark Robbins). Building ownership was represented by Hines (Greg Van Schaack, Tom D’Arcy, Jim Walsh and Laura Hines).
The lawyers in DLA Piper’s Chicago office work in a broad range of practices and sectors, including real estate, finance, financial services, restructuring, corporate and securities, private equity, franchise and distribution, intellectual property, labor and employment, venture capital and emerging companies, and tax.
About Ivanhoé Cambridge
Ivanhoé Cambridge is a world-class real estate company that leverages its high-level expertise in all aspects of real estate including investment, development, asset management, leasing and operations, to deliver optimal returns for its investors. Its assets, held through multiple subsidiaries and located mainly in Canada, the United States, Europe, Brazil and Asia, totalled more than Cdn$40 billion as at December 31, 2013. Its portfolio consists mainly of shopping centres, office and multiresidential properties. Ivanhoé Cambridge is a real estate subsidiary of the Caisse de dépôt et placement du Québec (lacaisse.com), one of Canada’s leading institutional fund managers. For more information: ivanhoecambridge.com.
Hines is a privately owned real estate firm involved in real estate investment, development and property management worldwide. The firm’s historical and current portfolio of projects that are underway, completed, acquired and managed for third parties includes 1,283 properties representing more than 516 million square feet of office, residential, mixed-use, industrial, hotel, medical and sports facilities, as well as large, master-planned communities and land developments. With offices in 111 cities in 18 countries, and controlled assets valued at approximately $25.2 billion, Hines is one of the largest real estate organizations in the world. Visit www.hines.com for more information.
About DLA Piper
DLA Piper is a global law firm with 4,200 lawyers located in more than 30 countries throughout the Americas, Asia Pacific, Europe and the Middle East, positioning it to help companies with their legal needs anywhere in the world. In certain jurisdictions, this information may be considered attorney advertising.