April 27, 2021
CHICAGO – Transwestern Real Estate Services (TRS) announces that IRI, a data analytics and market research firm, signed a long-term, 80,594-square-foot lease at 203 N. LaSalle in the Central Loop submarket. IRI has relocated to the property after 30 years at 150 N. Clinton St. in the West Loop. Executive Vice President Eric Myers and Senior Vice President Jeff Dowdell provided leasing services and represented the landlord, Sumitomo Corporation of Americas (SCOA), in the transaction.
“Leasing momentum continues at 203 N. LaSalle and we are happy to have secured the lease with IRI,” said Myers. “Many of Chicago’s prominent landlords competed for this transaction, and by working hand in hand with ownership, we provided the winning solution for the tenant.”
The Transwestern office leasing team has closed over 155,594 square feet of new tenant leases in the last 24 months. 203 N. LaSalle is now 80% leased, up from 56% when Transwestern was awarded the assignment. Transwestern is now marketing the last 91,839-square-foot large block available in the building.
“We are excited to have IRI join our tenant roster at 203 N. LaSalle,” said Andrew MacDonald, SCOA’s asset manager for the building. “We look forward to establishing a long-term relationship and providing an exceptional tenant experience.”
203 N. LaSalle is a 27-story, 624,724-square-foot, Class A office tower in Chicago’s Central Business District. The LEED Platinum building has enclosed parking for 1,200 cars and has completed a $15 million capital improvement project, installing first-class amenities including an updated, modern lobby and retail concourse, multi-purpose conference center, tech-enabled tenant lounge and full-service fitness center.
Meredith O’Connor, Jake Ehrenberg and Matt Carolan of JLL represented IRI in the transaction.
About Sumitomo Corporation of Americas
Established in 1952, and headquartered in New York City, Sumitomo Corporation of Americas (SCOA) has 8 offices in major U.S. cities. SCOA is the largest subsidiary of Sumitomo Corporation, one of the world's leading traders of goods and services. As an integrated business enterprise, the firm has emerged as a major organizer of multinational projects, an expediter of ideas, an important international investor and financier, and a powerful force for distribution of products and global communications through a network of offices worldwide. For more information visit www.sumitomocorp.com
About Transwestern Real Estate Services
Transwestern Real Estate Services (TRS) adds value for investors, owners and occupiers of all commercial property types through a comprehensive perspective and by providing solutions grounded in sound market intelligence. Part of the Transwestern companies, the firm applies a consultative approach to Agency Leasing, Asset Services, Occupier Solutions, Capital Markets, and Research & Investment Analytics.
The privately held Transwestern companies have been delivering a higher level of personalized service and innovative real estate solutions since 1978. An integrated approach formed from fresh ideas drives value for clients across commercial real estate services, development, investment management and opportunistic programs for high-net-worth investors. The firm operates through 34 U.S. offices and global alliances with BNP Paribas Real Estate and Devencore. Learn more at transwestern.com and @Transwestern.