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![]() As top-tier space grows scarce, some tenants opt for new developmentWhen Sidley Austin began searching for a new Chicago headquarters, the global law firm discovered a surprising problem: There weren't many places left to go. The firm wanted hundreds of thousands of square feet, direct access to public transit and the kind of amenities needed to attract more than 1,500 employees back to the office. After an extensive search, it concluded that the best option wasn't moving into an existing office tower but helping launch a new one. "It can be challenging to find the kind of space we want and as much space as we need," Brian Fahrney, a Sidley partner and chairman, told CoStar News. "Chicago is one of our largest markets, and even after we did a thorough search, we found limited options. We could move to an existing building or stay where we are, but both would have meant a lot of work. So, we concluded that the solution for us was to build a new building."... RSK: New and highly amenitized office buildings are in high demand with little to choose from. This has spurned new construction of high end office buildings with location, access and amenities to attract and keep employees. Definitely a huge gap between high end trophy office building demand and the lower tier. | ||
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