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| Trey Morsbach |
CHICAGO, IL – Holliday Fenoglio Fowler, L.P.
(HFF) announced it has arranged a construction loan for the development of a
20-story, trophy office tower at 625
West Adams Street in Chicago’s West Loop.
HFF worked on behalf of
the borrower, a partnership comprising USAA Real Estate Company and a joint
venture between White Oak Realty Partners, LLC and Vanderbilt Investment
Properties, an affiliate of CA Ventures.
The construction loan was provided by Bank of the Ozarks.
Designed by
internationally renowned architect Martin Wolf, FAIA, 625 West Adams will
feature 438,837 square feet of office space and a 408-space parking
facility.
The project will have average
floor plates of 31,500 rentable square feet, unobstructed 360 degree views of
the city, open floor plans and an expansive 25’ high lobby with
floor-to-ceiling glass.
The LEED certified
building will offer tenants an outdoor terrace on the 7th and top floor,
fitness center with outdoor terrace access, seventh floor restrooms with shower
stalls and changing areas, 2,500 rentable square feet of ground floor retail
and a location directly across from a public park, a scarcity in downtown.
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| Christopher Carroll |
625 West Adams is situated
in the heart of Chicago’s West Loop one block east of Chicago’s main highway,
Interstate 90 and a few blocks west of both Union Station and Ogilvie
Transportation Center providing commuter train access to the greater Chicago
area.
The HFF debt placement
team representing the borrower was led by managing director Christopher Carroll and senior managing
director Trey Morsbach.
“We are very excited to be
moving forward with the development of 625 West Adams,” said Casey Wold of Vanderbilt Partners. “A terrific execution of the construction
financing was critical to our timing and icing on the cake for a first-class,
new office building in the West Loop of Chicago.”
For a
complete copy of the company’s news release, please contact:
Kristen M. Murphy
Director, Marketing
HFF | One Post Office
Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 |
Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com
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