Sumitomo Corporation of Americas Acquires Two Retail Floors at 203 North LaSalle Street in Chicago

NEW YORK, March 19, 2015 /PRNewswire/ --  Sumitomo Corporation of Americas (SCOA) announced the recent acquisition of two floors of retail space at 203 North LaSalle street in Chicago, a Class A office tower in the heart of Chicago's Central Loop District. SCOA purchased the office space, on floors 13 through 27, in the building in April 2014. This new acquisition now aligns the building's office and retail space under one ownership and is the first step in positioning the building for redevelopment and attracting new tenants.

"This building has parking and access to six train lines which are enormous assets and have traditionally made it a part of the daily route for commuters. By renovating the retail, adding amenities, and lightening up the space with the help of talented architects, we will make the space even more of an attractive, comfortable and pleasant place to work. We want to make it a destination, and create a place where people want to linger,"  said Tomonori Wada, General Manager, SCOA. 

The redevelopment plan will combine the aesthetics of the office and retail space into a cohesive space. This spring, SCOA will start renovations to the lobby entrance, retail and amenities which will include over 8,000 square feet for the fitness center, a 1,000 square foot tenant lounge, and a new 3,500 square foot conference facility where tenants can hold conferences and events.

"When we first purchased the building, we recognized an opportunity to create value by diversifying the tenancy base in the planned lease-up," said Robert Obringer, Vice President, SCOA. "This added retail component brings all the pieces together and gives us a tremendous opportunity to distinguish the building in the marketplace."

The 203 North LaSalle office tower was originally designed by architectural firm Skidmore, Owings & Merrill, and includes a spectacular 12-story interior atrium that creates a pleasant environment with natural sunlight. Its proximity to River North makes this one of downtown Chicago's premier buildings, due to its central location and an array of features and amenities that appeal to today's tenants. Locational factors include direct access to the Clark and Lake Chicago Transit Authority (CTA) station and the Loop-spanning underground pedestrian walkway. The building also has 24-hour on-site security, an emergency generator, advanced life-safety systems and indoor access to the 1,200-stall parking garage. The property  also achieved LEED Gold certification and an Energy Star label signifying the building's superior energy efficiency.

SCOA has over 30 years of real estate investment and development experience in both residential and commercial properties in the U.S.   In addition to Chicago, SCOA also owns  office buildings in downtown San Diego and Washington D.C.   Sumitomo has acquired and sold commercial buildings in cities including New York, Honolulu, Los Angeles, Miami, San Francisco, Phoenix and Tempe. In addition to office properties, SCOA invests in master- planned communities and multi-family apartments.

For more information on leasing office space at 203 North LaSalle, please contact the leasing agent at Avison Young (Eric Myers [email protected], 312.448.7954)

For more information on retail at 203 North LaSalle, please contact the property manager at M&J Wilkow (Sallie Fulwiler [email protected], 312.236.3292)

About Sumitomo Corporation of Americas
Established in 1952, and headquartered in New York City, Sumitomo Corporation of Americas (SCOA) has 8 offices in major U.S. cities.  SCOA is the largest subsidiary of Sumitomo Corporation, one of the world's leading traders of goods and services.  As an integrated business enterprise, the firm has emerged as a major organizer of multinational projects, an expediter of ideas, an important international investor and financier, and a powerful force for distribution of products and global communications through a network of offices worldwide.  For more information visit www.sumitomocorp.com.

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SOURCE Sumitomo Corporation of Americas

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