CHICAGO | 130 N Franklin | 751 FT | 51 FLOORS - Page 24

PleasantlyMidway · #**461** Posted **May 23, 2018, 6:21 PM**

Quote:

Originally Posted by Vlajos

It has to be very close to 50%. Why is Salesforce looking for so much space here?

They would probably need to pre-lease at least 50% of the building to kick off the project and there are only a couple tenants of that size in the market.

And with Post Office bringing 2.4M SF online in a year, it's pretty tough to justify another 1M SF new development without an anchor tenant of that size.

Salesforce might look at the middle Wolf Point building too. I am not sure when their lease expires at 111 W Illinois but it's probably around 4-6 years from now. They want high visibility top-of-building signage too, and the mayor's office doesn't give that up unless you take more than 500,000 SF or are a headquarters location.

Vlajos · #**462** Posted **May 23, 2018, 6:43 PM**

Quote:

Originally Posted by PleasantlyMidway

They would probably need to pre-lease at least 50% of the building to kick off the project and there are only a couple tenants of that size in the market.

And with Post Office bringing 2.4M SF online in a year, it's pretty tough to justify another 1M SF new development without an anchor tenant of that size.

Salesforce might look at the middle Wolf Point building too. I am not sure when their lease expires at 111 W Illinois but it's probably around 4-6 years from now. They want high visibility top-of-building signage too, and the mayor's office doesn't give that up unless you take more than 500,000 SF or are a headquarters location.

That's got to be more space than they have in Indianapolis, which I thought was the second biggest outpost for Saleforce.

Edit: it is double the Indy office, which is 250K SF. And Salesforce appears to have about 117K SF in Chicago currently.

The Lurker · #**463** Posted **May 23, 2018, 11:55 PM**

Quote:

Originally Posted by Notyrview

Let this project sink and let WPS get all the tenants

Wolf Point South is not certain to be programmed as an office building

https://chicago.curbed.com/2018/1/24...ent-renderings

PleasantlyMidway · #**464** Posted **May 24, 2018, 3:22 PM**

Quote:

Originally Posted by The Lurker

Wolf Point South is not certain to be programmed as an office building

https://chicago.curbed.com/2018/1/24...ent-renderings

The last programming was 80% office and the top 20% residential. Large plates and lots of corners, very similar to the images in your Curbed link. Residential lobby on the north end of the building and 2 story office lobby on the south end. Pretty big core because of the separate residential elevators going up 60 floors.

Vlajos · #**465** Posted **May 24, 2018, 3:27 PM**

^ is your source for the Salesforce 500,000 SF of space solid? Becuase that seems like pretty big news if true.

Investing In Chicago · #**466** Posted **May 24, 2018, 3:32 PM**

Quote:

Originally Posted by Vlajos

That's got to be more space than they have in Indianapolis, which I thought was the second biggest outpost for Saleforce.

Edit: it is double the Indy office, which is 250K SF. And Salesforce appears to have about 117K SF in Chicago currently.

I'm quite close to Salesforce (my wife is a VP there and I work for a competitor), and they are doubling down on Chicago as one of their sales hubs. Indy was inherited through the Exact Target acquisition (Salesforce Marketing Cloud), from my understanding it was never their intent to keep indy as the regional hub.

Most of the expansion in Chicago will be Sales related jobs, which is great IMO because they are typically higher paying than "tech" jobs.

Vlajos · #**467** Posted **May 24, 2018, 3:37 PM**

Quote:

Originally Posted by Investing In Chicago

I'm quite close to Salesforce (my wife is a VP there and I work for a competitor), and they are doubling down on Chicago as one of their sales hubs. Indy was inherited through the Exact Target acquisition (Salesforce Marketing Cloud), from my understanding it was never their intent to keep indy as the regional hub.

Most of the expansion in Chicago will be Sales related jobs, which is great IMO because they are typically higher paying than "tech" jobs.

Got it. That makes a lot of sense.

KWillChicago · #**468** Posted **May 24, 2018, 3:44 PM**

Thats great news for Chicago. Does anyone have an update on the design. Yes, I'm frowning while asking that.

PleasantlyMidway · #**469** Posted **May 24, 2018, 6:47 PM**

Quote:

Originally Posted by KWillChicago

Thats great news for Chicago. Does anyone have an update on the design. Yes, I'm frowning while asking that.

Edit: This is from over a year ago... not sure if anything has changed

Bonsai Tree · #**470** Posted **May 24, 2018, 6:52 PM**

^^^
*Vomits*

Steely Dan · #**471** Posted **May 24, 2018, 6:53 PM**

^^ crap.

what a let-down.

UPChicago · #**472** Posted **May 24, 2018, 6:56 PM**

BVictor1 · #**473** Posted **May 24, 2018, 6:56 PM**

I don't mind this one going away.

k1052 · #**474** Posted **May 24, 2018, 7:00 PM**

lol seriously

Kngkyle · #**475** Posted **May 24, 2018, 7:09 PM**

yikes

quick, someone kill it before it lays eggs

rgarri4 · #**476** Posted **May 24, 2018, 7:19 PM**

Gah! Seriously? Just build the original design.

left of center · #**477** Posted **May 24, 2018, 7:33 PM**

I'm fine with keeping this one an empty lot for a little while longer...

the urban politician · #**478** Posted **May 24, 2018, 7:35 PM**

I’ll take it. Build it!

r18tdi · #**479** Posted **May 24, 2018, 7:45 PM**

Quote:

Originally Posted by PleasantlyMidway

Edit: This is from over a year ago... not sure if anything has changed

Still Krueck and Sexton?

230Roberto · #**480** Posted **May 24, 2018, 8:12 PM**

Why is everyone saying it sucks? Its not great but definitely not bad, Sure the old design was better but this still good enough. A little more detailing and this really reminds me of 110 N Wacker.