Gordon Rees Scully Mansukhani Expands Office Space With 10-Year Lease At 1 North Wacker Drive

Irvine Co., owned by Donald Bren, has secured a 10-year lease with law firm Gordon Rees Scully Mansukhani for approximately 30,000 square feet of office space at 1 North Wacker Drive in downtown Chicago. This lease expansion is contrary to the trend of office downsizing, contributing to the building's impressive 90% occupancy rate. The departure of the law firm from 1 North Franklin Street presents challenges for its landlord in the midst of broader distress in Chicago's office real estate market.

Summary of transaction details

• Property Type: Office
• Transaction Amount: N/A
• Address: 1 North Wacker Drive, Chicago
• Market: Chicago
• Square Footage: 30,000

This lease deal involves Irvine Co., represented by their owner Donald Bren, as the landlord, and law firm Gordon Rees Scully Mansukhani, specifically Scully Mansukhani, as the tenant. The 10-year lease agreement enables the law firm to expand its office footprint, defying the prevailing trend of downsizing. By securing this lease at 1 North Wacker Drive, the law firm contributes to the tower's high occupancy rate and presents a setback for its former landlord at 1 North Franklin Street, given the challenging state of Chicago's office real estate market.