Quote:
Originally Posted by Kngkyle
This implies there is no more space available in Willis Tower which is very much not true, even with the recent Morgan Stanley announcement. Also I find it hard to believe that Blackstone would be willing to let their main tenant of 850K sqft leave over lack of space in a building that has over 4m sqft.
I suppose it's possible that United got a hell of a discount on their lease and Blackstone feels that with the new investments they can re-lease the space at a much higher rate and so they're willing to let United walk.
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Could be the lack of open contiguous spaces. United is leasing, if I remember right, floors 5 thru 17 and 21 through 23. Floors 18 through 20 are held by Willis and with the recent signing of Morgan Stanley I don't think there are any large contiguous blocks available at the moment (tower is currently 90% leased).
The ongoing renovations are also a major headache. Beyond nuking amenities (imagine eliminating all of the food vendors in the dead of winter) the timeline for completion stinks (2019 to 2020) and there's also an ongoing elevator renewal program that will drag on till 2023 (each elevator is being refurbished and the generators are being replaced & updated which takes 3 months per elevator) so for a bank of six elevators serving a dozen floors that's 18 months of disruption.
Honestly it kind of sucks working here at the moment.