PNC Bank Becomes Largest Office Space Tenant at Chicago’s One North Franklin

In a recent lease expansion, PNC Bank is set to occupy 116,000 square feet of office space in Chicago’s One North Franklin, making the company the building’s largest tenant.
PNC Bank has recently expanded, extending the company’s lease at downtown Chicago’s One N. Franklin – with the plans to occupy approximately 116,000 square feet by the [...]

In a recent lease expansion, PNC Bank is set to occupy 116,000 square feet of office space in Chicago’s One North Franklin, making the company the building’s largest tenant.

PNC Bank has recently expanded, extending the company’s lease at downtown Chicago’s One N. Franklin – with the plans to occupy approximately 116,000 square feet by the year 2013. This expansion makes PNC the largest of the 617,000-square-foot tower’s tenants, and it plans to occupy the new office space until 2022.

To go along with this significantly large lease and as a reward to the bank, owner Tishman Speyer has recently agreed to rename the building, “PNC Centre.” This new moniker will be displayed on both the building’s façade as well as a sidewalk monument. Joseph Gregoire, the bank’s regional president, stated that Chicago is an are of huge growth for the bank.

A spokesman for Tishman stated to globest.com that the building is now 81% occupied, with the recent leases by law firms Walker Wilcox Matousek and Cremer Spina. Todd Mintz and Andy Strand with UGL Equis represented the tenant in the PNC lease, and Ellen Meline May and Jon Cordell represented ownership, according to globest.com. For $5.2 billion, the firm acquired National City Bank in October 2008.

Source: www.globest.com

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This entry was posted on Wednesday, March 30th, 2011 at 3:14 am and is filed under Commercial Real Estate News, Office Blog. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.