CIM Group Leases More than 100,000 Square Feet in November at 425 S. Financial Place in Chicago’s Central Loop
CHICAGO--CIM Group announced today that it executed three leases with financial industry businesses for a total of 108,975 square feet at 425 S. Financial Place, a prominent 40-story, one-million-square-foot office complex in Chicago’s Central Loop.
CIM Group signed Loop Capital, a full-service investment bank, brokerage and advisory firm, to approximately 36,676 square feet. The company is relocating its Chicago operations to 425 S. Financial Place where it will occupy the 26th and 27th floors.
Chicago Trading Company, which has been located at 425 S. Financial Place since 2009, is expanding in the building, taking an additional 46,343 square feet, on the building’s 7th and 8th floors, to accommodate its growing operations. Chicago Trading Company is a proprietary trading firm founded in 1995 and consists of a collaborative group of traders, quants, technologists, and operations team members.
TICG Management, which offers a range of products including mortgage loans, real estate services, and a complete line of insurance, renewed its lease for 25,956 square feet. TICG Management has occupied the space on the building’s 20th floor since 2014.
Earlier this year, CIM Group brought ScalpTrade, a proprietary trading firm and technology service provider, into 13,000 square feet at 425 S. Financial Place. Its office on the building’s 36th floor serves as its corporate headquarters.
“We believe recent leasing activity at 425 S. Financial Place demonstrates that well-located, quality office properties remain attractive to businesses. Employers want an appealing environment, with a variety of communal amenities and easy access to shopping, dining and transportation. We see these attributes continuing to drive the decision-making process in selecting an office location,” said Shaul Kuba, Co-Founder and Principal, CIM Group.
Located between South Financial Place and South LaSalle Street in Chicago’s business and financial district, 425 S. Financial Place consists of a 954,000-square-foot tower, a 83,000-square-foot annex overlooking Ida B. Wells Drive, a 45,000-square-foot landscaped public plaza, a 5,000-square-foot retail building, and a 325-space underground parking garage.
In 2015, the LEED Gold certified 425 S. Financial Place completed exterior and interior renovations, adding a full-service upscale cafeteria, conference centers, a tenant lounge, concierge services, and an outdoor terrace. The property also houses the Buckingham.AC, a private social and athletic club, and the 21-key Buckingham Hotel.
Located in the Central Loop, 425 S. Financial Place provides convenient access to nearby public transit, including the LaSalle Metra station and multiple CTA lines with connectivity to Chicago O’Hare and Midway International Airports.
CIM’s portfolio of Chicago properties includes Tribune Tower Residences, a 36-story, 740,000-square-foot tower and 50,000-square-foot The Shops at Tribune Tower retail; 444 N. Michigan Ave., the 36-story, 517,000-square-foot Class A office building on Magnificent Mile; Block 37, the 275,000-square-foot five-level retail center in Chicago’s Loop; mixed-use properties at 1241, 1647 and 1912 N. Milwaukee Ave.; Paragon, an apartment development at 1326 S. State St.; Chestnut Place, a 30-story apartment and retail development at 850 N. State St.; and the 1550 On the Park residential condominium development.
For more than 25 years, CIM Group has utilized its broad expertise to own, develop, reposition, and operate real estate assets, transforming communities and creating dynamic environments throughout the Americas.
About CIM Group
CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. Since 1994, CIM has sought to create value in projects and positively impact the lives of people in communities across the Americas by delivering more than $60 billion of essential real estate and infrastructure projects. CIM’s diverse team of experts applies its broad knowledge and disciplined approach through hands-on management of real assets from due diligence to operations through disposition. CIM strives to make a meaningful difference in the world by executing key environmental, social and governance (ESG) initiatives and enhancing each community in which it invests. For more information, visit www.cimgroup.com.