Olam International, led by Sunny Verghese, has signed a 15-year lease for 80,000 square feet at the Marshall Field building in downtown Chicago. The historic property, located at 24 East Washington Street, is owned by Brookfield Properties, represented by Alex Antolino. This lease defies the current trend of downsizing office space, showcasing the demand for prestigious locations in the city. Earlier this year, the property had already secured a 31,000-square-foot lease, demonstrating its success in attracting tenants.

Summary of transaction details

• Property Type: Office
• Transaction Amount: Not mentioned
• Address: 24 East Washington Street
• Market: Chicago

In this lease transaction, Olam International, represented by Matt Carolan and Christine Bower from JLL, secured a long-term commitment for the office space. The asking rent for the 80,000-square-foot area was $61 per square foot. The deal was facilitated by the respective brokers for the landlord and tenant, Jack O’Brien, JD Parcheta, and the team at Telos representing Brookfield Properties and Olam International, respectively.