HSA COMMERCIAL REAL ESTATE NAMED EXCLUSIVE OFFICE LEASING AGENT FOR SPACE BEING VACATED BY CARSON PIRIE SCOTT IN CHICAGO'S HISTORIC SULLIVAN CENTER
February 14, 2007
(Chicago – February 14, 2007) – Daniel F. Miranda, president, HSA Commercial Real Estate, announced that the firm has been named the exclusive office leasing agent for 400,000 square feet of office space being vacated on floors 3 to 7 by department store Carson Pirie Scott in the Sullivan Center at 33 S. State Street, Chicago, Ill. The Sullivan Center is owned by Joseph Freed & Associates, a leading Midwest real estate developer, and has been extensively restored in the past several years. While the first two floors and the lower level of the building will continue to be marketed as retail space, ownership will convert the upper floors into office space allowing prospective tenants to completely build-out the space to their own specifications.
The Sullivan Office Center is one of Chicago 's most significant and recognized historical landmarks, offering the unique features of a turn-of-the-century classic along with state-of-the-art upgrades from a major renovation. It is a 1,000,000-square-foot multi-use commercial project and a national historic landmark, designed by renowned Chicago architect Louis Sullivan in 1899. The Center has undergone a complete renovation of its historic elements, modernization of building systems, new and upgraded lobbies, elevators and renovated corridors.
The State of Illinois is the largest office tenant in the Center, with a long-term lease for 250,000 square feet. Additionally, the School of the Art Institute of Chicago recently leased 53,801 square feet of space on the 12 th floor above Carson 's for its enrollment, institutional marketing and student services departments.
The Center is in the heart of Chicago's revitalized State Street corridor and is listed on the National Register of Historic Places. Joseph Freed & Associates worked closely with the City of Chicago to preserve and maintain the historic integrity of the building including the historic cornice which is visible from the School of the Art Institute space.
“We are very honored to be named the exclusive office leasing agent for this Chicago treasure,” said Miranda. “The Sullivan Office Center offers tenants an address in an immediately recognized national landmark, with all the amenities and upgrades a typical downtown skyscraper affords.” Wayne Shulman, veteran HSA broker and senior vice president in the corporate services division, leads the leasing team for this project. The building offers up to 382,000 contiguous square feet of office space in the former Carson's space and a variety of smaller spaces sprinkled through the center.
“There is no other building like this downtown,” Shulman said. “We can appeal to virtually anyone looking for space in the center of the City. State Street has always been one of the most developed streets downtown and is in the midst of a rebirth today, with the vacant Carson's space presenting endless opportunities for office users.”
Celebrating 26 years of excellence in commercial real estate, Chicago-based HSA Commercial Real Estate is a full-service real estate firm specializing in office, industrial, retail and health care real estate leasing, management, marketing, development and financing on a national basis. The firm and its principals have developed and acquired more than 30 million square feet of commercial real estate across the United States with total consideration in excess of $1.5 billion, its brokerage divisions have completed more than 7,000 transactions in 43 states representing both owners and tenants, while the asset management division currently manages a property portfolio in excess of 15 million square feet in 12 states and the firm presently owns nearly 17 million square feet of commercial property in 14 states.
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