Sunday, August 12, 2007

Sear's Tower has Space to Rent

The Chicago Tribune reports:
It's not easy being an aging trophy skyscraper.

The 110-story Sears Tower may be the nation's tallest building but, pride aside, it is still struggling to move out from under the cloud of being a possible target for terrorists.

And the West Loop, which the Sears Tower anchored when it was built in 1973, has since transformed from an out-of-the-way neighborhood of old factories and buildings into one of the hottest locations for new towers -- its main competitors.


Some prestigious tenants have moved out prior to expiration of their leases or are looking for new space.

As a result, Sears Tower is engaged in an all-out push to retain and attract tenants. About 23 percent of its 4 million square feet is empty or available to lease, up from 3 percent when the 2001 terrorist attack on New York's World Trade Center caused tower tenants to flee.
Good luck.