Onni Group Secures Leases With Clausen Miller And Stout Risius Ross For 44,000 SF Office

The property involved in this transaction is a 31-story office tower located at 225 West Randolph Street in Chicago, encompassing an asset type of office with a total square footage of 44,000 SF. The landlord for this lease is Innocenzo De Cotiis from Onni Group.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: Not specified
• Address: 225 West Randolph Street
• Market: Chicago
• Landlord: Innocenzo De Cotiis - Onni Group
• Tenants: Dennis Fitzpatrick - Clausen Miller; Craige L. Stout - Stout Risius Ross
• Brokers: Jack O'Brien & Matthew Whipple - Telos Group

The lease includes tenants Clausen Miller and Stout Risius Ross, each occupying 22,000 SF. The deals signify a trend of tenants downsizing, while Onni Group is taking advantage of a $140M renovation and Class L tax incentives to attract office users amidst high vacancy rates in downtown Chicago.