HSA COMMERCIAL REAL ESTATE LEASES 27,264 SQUARE FEET IN SEARS TOWER
March 15, 2006
(Chicago – March 15, 2006) HSA Commercial Real Estate has signed a 10-year lease for 27,264 square feet on the third and fourth floors of the Sears Tower, architecturally significant space that includes 18-foot ceilings and views of the landmark skyscraper's atrium. HSA, a diversified national commercial real estate firm, will move into the space in late July.
“The Sears Tower offers an amazing combination of Class A space, amenities and superior location,” explained Bob Smietana, CEO of HSA Commercial Real Estate, “Our business growth has dictated that now is the time to move, we have outgrown our current facility and we are taking this opportunity to move into one of the nation's great office buildings.”
“It's always great to have experts in the marketplace recognize the benefits of a building like Sears Tower,” according to John Dempsey, senior vice president of CB Richard Ellis and leasing agent for Sears Tower. “This is the premier asset on Wacker Drive. The amenities and location cannot be matched, even by newer properties. This lease represents recognition by these commercial real estate professionals of the value this building has to offer.”
HSA was represented by the president of its corporate services division, John Wilson, and executive vice president David Wilson. (John Wilson was one of the original leasing agents for the Sears Tower.) Ownership of the Sears Tower was represented by the CB Richard Ellis team of John Dempsey and Menahem Deitcher, both of whom are senior vice presidents. The Sears Tower is owned by a group of private investors that operate as 233 South Wacker LLC.
The firm will occupy approximately 20,000 square feet on the third floor, and approximately 7,000 square feet on the fourth floor of the building. The third floor space was designed with 18-foot ceilings and interior windows that open onto the interior atrium of the Sears Tower. Sears Roebuck & Co. once used the space as a special events, meetings and presentations area when Sears Tower was its corporate headquarters. The space is currently unoccupied; it was most recently occupied by technology company Universal Access. HSA will customize it to serve as their national headquarters.
HSA Commercial Real Estate is the 10th new tenant to move into Sears Tower under a direct lease since CB Richard Ellis began managing and leasing the building in mid-2004. These direct leases total more than 175,000 square feet of leased space. Aside from new tenants, several existing Sears Tower tenants have renewed and/or expanded their leases during this time, including Schiff Hardin LLP, Celtic Life Insurance and Heidrick & Struggles.
HSA will be moving from the offices it has occupied just five blocks north at 180 North Wacker for more than fifteen years. While HSA and its principals have an ownership interest in the building, the firm identified a need for additional, higher-end space to accommodate the growth of its business. According to Smietana, “We own more than 100 buildings nationwide – this is our business. We know enough about the business of office properties to know when we have outgrown our space, and to identify a better fit for us in one of America 's most noteworthy buildings.”
About HSA Commercial Real Estate
Celebrating 25 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 11 states.
About Sears Tower
Sears Tower is the premiere address for business in the heart of Chicago, offering more than 3.5 million square feet of office and retail space. Located in Chicago 's West Loop at 233 S. Wacker Drive, the skyscraper is easily accessible by the commuter rail stations, highways and all forms of public transportation. Standing 1,450 feet and 110 stories tall, Sears Tower is the tallest building in North America. Originally opened in September 1973 as the corporate headquarters for Sears, Roebuck and Co., the building is now a multi-tenant office building home to more than 100 different companies, including prominent financial services firms, law firms and insurance companies. Sears Tower offices boast spectacular vistas of Chicago, with views that can exceed 35 miles on a clear day. Sears Tower also boasts tremendous infrastructure, which includes enormous telecommunications capacity and unsurpassed electrical capacity and reliability. Other building amenities include seven restaurants, on-site parking, the Sears Tower Club for athletic pursuits, the Metropolitan Club for private dining and the Sears Tower Conference Center on the 33rd and 99th floors. The Sears Tower Skydeck on the 103rd floor attracts more than 1 million visitors per year.
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