55 East Monroe Wraps Up 2013 With Three New Deals Totaling 47,651 Square Feet

55 East Monroe, the East Loop’s premier office destination, wrapped up 2013 on a high note, signing three new tenants to leases totaling 47,651 square feet.

• In the largest and most creative of the leases signed, Best Imaging Solutions took 16,450 square feet of the subgrade office and retail concourse level (at dock level adjacent to the a food court and other building amenities). Ownership was able to build an office and production environment that satisfied the unique requirements of the tenant. Best Imaging was represented by Avison Young’s Jim Kerrigan.
• ACCIONA, a Madrid-based world leader in the development and management of infrastructure, renewable energy, water and services, signed a long-term lease for 15,882 square feet on the 19th floor. The company will use the space as its North American headquarters. Cushman & Wakefield’s David Findling and Eric Sorensen represented the tenant in the transaction.
• Getty Images signed on for 15,319 square feet. Cushman & Wakefield’s David Findling also represented Getty in the transaction.

GlenStar Properties LLC, and partner Walton Street Capital, purchased 55 East Monroe, a 49-story office tower located in the city’s vibrant East Loop submarket, in 2005. Shortly thereafter, ownership embarked on a redevelopment project that would transform the top nine floors of the 1.6-million-square-foot property into luxury condominiums. The project, the largest partial conversion of an existing office building into luxury residential condominiums in Chicago history, was completed in 2013.