CHICAGO, June 8, 2015 /PRNewswire/ -- The Telos Group
and CBRE today announced that they had been selected by
Blackstone (NYSE:BX) to reposition
the office, retail and entertainment at the iconic Willis Tower in Chicago. Blackstone closed the acquisition of the
mixed-use tower on June 5, and
intends to begin this repositioning immediately. The execution team
will also include Equity Office, an affiliate of Blackstone, as property management for the 4.5
million square feet of office, retail and entertainment space,
which includes the famed Skydeck. Chicago-based Telos Group, LLC will be
responsible for the strategic repositioning and leasing of the 3.8
million square feet of office space, and CBRE will be responsible
for leasing in the retail and entertainment complex, anchored by
the Skydeck.
Plans for the project include significant expansion of the
building's retail and entertainment offerings and a completely
reimagined office environment. The offices will combine
extraordinary office space with enhanced lifestyle amenities geared
toward a rapidly-changing and demanding workforce.
Brian Whiting, President of The
Telos Group, emphasized, "There is no better owner than
Blackstone to reignite the massive
potential of Willis Tower. The building's scale, identity and
history require an ownership that is well capitalized, forward
thinking and very creative. We could not be happier to be part of
Blackstone's vision to transform
Willis Tower into Chicago's hottest office and retail
center."
Todd Siegel, First Vice President
of CBRE, stated, "Blackstone has
an incredible vision for the repositioning of the retail space at
the iconic Willis Tower and we are
excited to embark on this endeavor with them." Siegel continued,
"We are confident that this partnership will yield exceptional
results and deliver a new standard for retail offerings in
Chicago."
About The Telos Group, LLC
The Telos Group, LLC
provides leasing, marketing and consulting services in Chicago and consulting services for real
estate businesses nationwide. Telos employs a disciplined and goal
driven process to create entrepreneurial solutions customized for
each assignment. As Chicago's only
dedicated owner representation firm, it has been the leader in
shaping the evolution of office space for innovative businesses.
Telos represents a portfolio of 18 million square feet encompassing
historic to trophy buildings owned by diverse ownership groups,
from entrepreneurial investor consortiums to international
institutions. The firm was awarded Office Property Representative
of the Year for 2012, 2013 and 2014 by the Chicago Commercial Real
Estate Awards. To learn more about The Telos Group LLC, visit
www.telosgroupllc.com.
About Equity Office
Equity Office is a Chicago-based owner of office space across the
United States. The company focuses heavily on meeting the
current trends and changing strategic needs of companies and our
chosen markets. Equity's regional leaders head teams with
deep experience across the board from investment and asset
management, to property management, development and
construction. The company is an affiliate of The
Blackstone Group. To learn more about Equity Office,
visit www.equityoffice.com
About CBRE Group, Inc.
CBRE Group,
Inc. (NYSE:CBG), a Fortune 500 and S&P 500
company headquartered in Los Angeles, is the world's largest
commercial real estate services and investment firm (in terms of
2014 revenue). The Company has more than 52,000 employees
(excluding affiliates), and serves real estate owners, investors
and occupiers through more than 370 offices (excluding affiliates)
worldwide. CBRE offers strategic advice and execution for
property sales and leasing; corporate services; property,
facilities and project management; mortgage banking; appraisal and
valuation; development services; investment management; and
research and consulting. To learn more about CBRE Group, Inc, visit
www.cbre.com
Media
Contacts:
|
|
William R. Flatt, The
Telos Group
|
Margy Sweeney, Akrete
Communications
|
wflatt@telosgroupllc.com
|
margy@akretecommunications.com
|
312-477-2930
|
312-612-0343
|
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SOURCE The Telos Group, LLC