Ivanhoé Cambridge and co-investor and developer Hines, announced today that Servcorp has a signed a lease for approximately 25,500 square feet at River Point, 444 W. Lake Street. The River Point office will be Servcorp’s third location in Chicago and will open in early 2017.
Designed to meet all the needs of 21st-century businesses, 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, fine dining restaurant and extraordinary views of the Chicago River. The building has been designed to achieve LEED Gold.
Servcorp was represented in this transaction by Brad Serot and Jon Springer of CBRE. Building ownership was represented by the Hines team of Greg Van Schaack, Tom D’Arcy and Laura Hines.
About Servcorp Limited
Servcorp is one of the world’s leading providers of technologically superior managed workspaces and is viewed as the market leader in premium executive suite offices and virtual offices. Founded in Sydney in 1978, Servcorp now operates a growing international network of 140 prime city locations in 51 cities across 23 countries, which are serviced by a team of over 730 personnel globally. Winner of the 2012 Australian Large Services Export Award, Servcorp’s clients range from Fortune 500 companies to small and medium-sized businesses and solo practitioners all over the globe.
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.
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.