Newmark is pleased to announce that it has successfully advised Sheehan Nagle Hartray Architects (SNHA) in its long-term, full-floor, 23,615-square-foot lease at 1 Prudential Plaza in Chicago, IL.
Sheehan Nagle Hartray Architects is a full-service architectural firm offering architectural design, interior design and predesign services including site selection, program definition and feasibility studies. The firm’s 70-plus staff of architects and interior designers includes six principals. SNHA’s Chicago office is its headquarters, while its London office serves the European data center market.
Relocating from 12,907 square feet at 30 W. Monroe Street (Inland Steel Building) in Chicago, SNHA worked with Newmark to find larger, more flexible space for the fast-growing firm. Newmark Executive Managing Director Geoffrey Kasselman, SIOR, LEED AP, and Director Matthew Whipple led the brokerage team representing SNHA, along with Newmark Vice Chairmen Bob Chodos, SIOR and Steve Levitas. The team provided site selection services, along with lease negotiations and financial analyses, ultimately securing the long-term, full-floor lease at 1 Prudential Plaza based on its abundance of natural light, best-in-class amenities, location and efficient floor plates with room for growth. In addition, Kasselman and Whipple were also selected by SNHA to market the firm’s remaining 9,317 square feet of space at 30 W. Monroe for sublease.
“The Newmark team listened to our needs and helped us pinpoint first-class space in an architecturally significant building where the whole team can be on one floor together with room for expansion if needed,” noted SNHA Principal Neil Sheehan. “We can’t wait to be in our new space once the renovations are complete.”
SNHA will move into its new space at 1 Prudential Plaza in April 2019 once it has been built to its specifications. Known for the design of significant cultural educational facilities as well as some of the largest data center developments in the world, this is its fifth office deal with Kasselman in the past seven years, all of which have been to accommodate the firm’s rapid growth. Kasselman also recently represented SNHA, along with Knight Frank, in securing new office “flex” space for its London, UK office at 20 Chiswell Street.
“It is always gratifying to help solve the space needs for any of our clients, but in the case of SNHA, it has been much more than that, ” said Kasselman. “We take immense pride in working with SNHA yet again on their strategic considerations along with the analytics and the tactical implementation to help SNHA secure dramatic space in a dynamic location that accomplishes all of their near and long-term needs.”
The landlord of 1 Prudential Plaza, Sterling Bay, was self-represented in the lease negotiations.
Newmark (“Newmark”), operated by Newmark Group, Inc. (“Newmark Group”) (NASDAQ: NMRK), is one of the world’s leading and most trusted commercial real estate advisory firms, offering a complete suite of services and products for both owners and occupiers. Together with London-based partner Knight Frank and independently-owned offices, Newmark’s 16,000 professionals operate from approximately 430 offices on six continents. Newmark’s investor/owner services and products include investment sales, agency leasing, property management, valuation and advisory, diligence, underwriting, government-sponsored enterprise lending, loan servicing, debt and structured finance and loan sales. Occupier services and products include tenant representation, real estate management technology systems, workplace and occupancy strategy, global corporate services consulting, project management, lease administration and facilities management. For further information, visit www.ngkf.com. Newmark Group is a publicly traded subsidiary of BGC Partners, Inc. (“BGC”) (NASDAQ: BGCP), a leading global brokerage company servicing the financial and real estate markets.
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