Qualtrics & Skills for Chicagolands Future Grow Presence in West Loop Submarket
April 07, 2022
CHICAGO - Transwestern Real Estate Services (TRS) announces it has arranged two lease expansions at 191 N. Wacker Drive, a 37-story, 733,759-square-foot office building in Chicago’s West Loop submarket. Manulife Investment Management, on behalf of its clients Allianz Real Estate and John Hancock Life Insurance Co., was represented by Transwestern Senior Vice Presidents Katie Steele and Kathleen Bertrand in the transactions.
The transactions include:
- Qualtrics, an experience management software company, expanded its lease from 25,600 square feet to a 51,200-square-foot space, occupying a full floor at 191 N. Wacker Drive. This space serves as the hub for the company’s Midwest operations. Qualtrics was represented in lease negotiations by Evan Djikas and Kyle Hundelt of Colliers.
- Skills for Chicagoland’s Future, a nonprofit focused on increasing the economic mobility of unemployed and underemployed talent by connecting them to quality jobs with a network of committed employers, expanded its lease from 10,907 square feet to 13,290 square feet. Skills for Chicagoland’s Future was represented in lease negotiations by Jon Milonas and Brandon Green of CBRE.
“The expansions for Qualtrics and Skills for Chicagoland’s future are great for both 191 N. Wacker and Chicago’s CBD,” said Steele. “Leasing activity is picking up as Chicago’s market fundamentals continue to recover, and 191 N. Wacker offers a convenient location with parking, and best-in-class, flexible space options, all of which are crucial for companies as they make real estate decisions during this time.”
“We are thrilled that we were able to work with Qualtrics and Skills for Chicagoland’s Future, alongside Transwestern, to accommodate their space requirements and solve for their continued growth,” said Michael Basic, Managing Director, U.S. Real Estate Asset Management, Midwest Region of Manulife Investment Management. “These lease expansions will aid both tenants in retaining and attracting talent, and we are proud to have them at 191 N. Wacker.”
191 N. Wacker’s current availabilities include a 100,000-square-foot high-rise block with expansive views of the Chicago River and cityscape, as well as two brand new spec suites totaling 10,121 and 19,456 square feet. In 2022, ownership will complete significant capital improvements, focusing on collaboration and wellness, including a renovated lobby with new seating and lighting, a refreshed tenant lounge and an upgraded fitness center. The building is located within walking distance to the Riverwalk, the River North entertainment and dining district and both the Clark/Lake and Washington/Wells “L” stations, as well as Ogilvie Transportation Center and Union Station.
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Qualtrics, the leader in customer experience and creator of the Experience Management (XM) category, is changing the way organizations manage and improve the four core experiences of business––customer, employee, product, and brand. Over 11,000 organizations around the world are using Qualtrics to listen, understand, and take action on experience data (X-data™)––the beliefs, emotions, and intentions that tell you why things are happening, and what to do about it. The Qualtrics XM Platform™ is a system of action that helps businesses attract customers who stay longer and buy more, engage employees who build a positive culture, develop breakthrough products people love, and build a brand people are passionate about. To learn more, please visit qualtrics.com.
About Skills for Chicagoland’s Future
Skills for Chicagoland’s Future is a signature initiative of Chicago Mayor's Office and Cook County Board President Preckwinkle that is designed to close the workforce skills gap, drive business growth and get unemployed and underemployed Chicagoland area residents back to work. We do this by partnering with local employers to identify their available hiring needs and match them with qualified unemployed/underemployed job seekers in the Chicagoland area. We also access and coordinate government funding for customized training, so candidates have the skills necessary to deliver results from their first day on the job. We are a public-private partnership that is supported by the City of Chicago, Cook County, and the State of Illinois, as well as by private and corporate foundations. Our nonprofit status means we provide these recruitment, placement and training services at no cost to the job seeker. Our win-win approach is not only an important civic initiative but also a great way to make our region economically stronger and bring a highly skilled and diverse workforce to companies who need it. To learn more please visit www.skillsforchicagolandsfuture.com.
About Manulife Investment Management
Manulife Investment Management is the global brand for the global wealth and asset management segment of Manulife Financial Corporation. We draw on more than a century of financial stewardship and the full resources of our parent company to serve individuals, institutions, and retirement plan members worldwide. Headquartered in Toronto, our leading capabilities in public and private markets are strengthened by an investment footprint that spans 18 geographies. We complement these capabilities by providing access to a network of unaffiliated asset managers from around the world. We’re committed to investing responsibly across our businesses. We develop innovative global frameworks for sustainable investing, collaboratively engage with companies in our securities portfolios, and maintain a high standard of stewardship where we own and operate assets, and we believe in supporting financial well-being through our workplace retirement plans. Today, plan sponsors around the world rely on our retirement plan administration and investment expertise to help their employees plan for, save for, and live a better retirement. Not all offerings are available in all jurisdictions. For additional information, please visit manulifeim.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, Tenant Advisory + Workplace 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. Through an integrated, customized approach that begins with good ideas, the firm drives value for clients across commercial real estate services, development, and investment management. Operating from 33 U.S. offices, Transwestern extends its platform capabilities globally through strategic alliance partners whose unique geographic, cultural, and business expertise fuels creative solutions. Learn more at transwestern.com and @Transwestern.
Senior Vice President
Senior Vice President