CHICAGO, Jan. 10, 2019 /PRNewswire-PRWeb/ -- Cresa, the world's largest occupier-centric commercial real estate firm, and Chicago Metropolitan Agency for Planning (CMAP), the award-winning regional planning organization for the northeastern Illinois counties of Cook, DuPage, Kane, Kendall, Lake, McHenry and Will, recently announced a long-term lease agreement for CMAP's new headquarters at The Old Main Post Office Building with landlord 601 W Companies, based in New York City.
The transaction closed at year-end 2018 and was led by the Cresa team, including Managing Principals Sheila Samii Matuscak and Allen Rogoway, and Senior Advisor, Kelly Connolly, with assistance from Cresa's Strategic Workplace leader, Rick Ybarra, and Senior Financial Analyst, Lease Audit, Eugene Ballantine. CMAP signed a 15-year lease and will occupy 47,014 square feet for their mission-centric space by the second half of 2020.
"Our Board and staff are pleased to have found a new home in a development that represents a significant investment in metropolitan Chicago and reflects CMAP's mission to help communities and our region thrive. Our new space in the iconic Old Main Post Office Building will allow the agency to continue to attract top talent and innovative thinkers who are committed to serving the public," said Joseph C. Szabo, CMAP executive director. Szabo added that CMAP worked closely with Sheila Samii Matuscak and her team at Cresa to identify the Post Office as their top choice.
"CMAP presented Cresa with a unique challenge of wanting to find a timeless solution that would efficiently, and cost-effectively, allow them to complement their recently launched ON TO 2050 plan focused on inclusive growth, resilience and prioritized investment. After considering options over a two-year search process, The Old Post Office met this challenge making CMAP the third tenant to sign a lease at the largest adaptive reuse project in the nation," said Matuscak. "The project allows CMAP to occupy less overall space while providing an environment that will speak to and enhance CMAP's mission. Under close collaboration with the CMAP team, we were able to utilize a variety of integrated services including Strategic Consulting, Workplace Intelligence, Transaction Management, pre-lease Project Management and Lease Forensics to identify the optimal long-term solution for CMAP."
As the Chicago metropolitan area continues to see significant real estate investment, Cresa is assisting companies across sectors make smart, scalable, real estate decisions. With over 100+ offices worldwide and new locations added nationally as well as globally in Poland, Spain and Beijing, the company continues to see significant growth with over 1,700 clients across 59 industries in 891 cities globally. For more information, please visit http://www.cresa.com.
Cresa is the world's largest commercial real estate advisory firm that exclusively represents occupiers and specializes in the delivery of fully integrated real estate solutions. Delivered across every industry, its services include Consulting, Facilities Management, Global Portfolio Solutions, Investment Banking, Lease Administration, Location Strategy & Economic Incentives, Project Management, Transaction Management and Workplace Intelligence. With over 1000 employees in more than 80 offices globally, Cresa partners with occupiers everywhere. For more information, visit http://www.cresa.com.
The Chicago Metropolitan Agency for Planning (CMAP) is our region's comprehensive planning organization. The agency and its partners developed and are now implementing ON TO 2050, a new long-range plan to help the seven counties and 284 communities of northeastern Illinois implement strategies that address transportation, housing, economic development, open space, the environment, and other quality-of-life issues. See http://www.cmap.illinois.gov for more information
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