Extensive process culminates in renewal at 550 W. Adams St. in Chicago
CHICAGO, February 14, 2019 – Cushman & Wakefield has represented USG Corporation in restructuring and securing a 10-year lease extension for the company’s global headquarters at 550 W. Adams St. in Chicago. The global building materials manufacturer will remain in 220,000 square feet (SF) on floors 11 through 18.
Chris Wood, David Stefancic and Brian Duffy represented USG in lease negotiations. Joy Jordan and Emily Marquardt of Telos Group represented the landlord, GLL Real Estate Partners. Cushman & Wakefield will also provide project management services to USG as part of a renovation of the headquarter facilities.
Chris Wood, Executive Managing Director, Transaction Advisory at Cushman & Wakefield Chicago, “USG has been based in Chicago for more than 100 years. The company executed an in-depth and detailed search for office space, looking at existing buildings in the central business district as well as options to be an anchor tenant in new developments. Ultimately, they elected to renew and restructure their lease at 550 W. Adams St., extending it by 10 years.
The decision complements USG’s long-term plans for continued growth and success, which will continue with the unrivaled talent and culture available in Chicago.”
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Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value by putting ideas into action for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with 48,000 employees in approximately 400 offices and 70 countries. In 2017, the firm had revenue of $6.9 billion across core services of property, facilities and project management, leasing, capital markets, advisory and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.