(CHICAGO) – Hines, the international real estate firm, today announced the launch of Salesforce Tower Chicago, the third phase of the Wolf Point master plan—a three-phase development designed by Pelli Clarke Pelli—located on one of the last remaining riverfront sites in Downtown Chicago. Hines is developing Salesforce Tower Chicago in partnership with longtime land owner, the Joseph P. Kennedy Family.
Earlier today, Mayor Rahm Emanuel announced that Salesforce, the global CRM leader, will be expanding its Midwest presence in Chicago and has signed a 500,000-square-foot lease to be the anchor tenant at the 1.2 million-square-foot tower. Additional dignitaries presiding at the ceremony included Illinois Governor Rauner and Governor-elect Pritzker, as well as representatives from the Kennedy family, Hines and Salesforce.
Wolf Point is located at the confluence of the three branches of the Chicago River. The tower, to be located at 333 West Wolf Point Plaza Drive will rise 60 stories above downtown Chicago, on the premier remaining riverfront site at the epicenter of in-demand downtown neighborhoods and transit options. Salesforce Tower Chicago will be the most prominent piece of the Wolf Point master plan which includes two luxury apartment towers, 2.5 acres of landscaped park and 1,000 linear feet of river frontage. As the centerpiece of the master plan, the tower will enjoy dramatic views in all directions.
Salesforce Tower Chicago will reflect all of Hines’ global best practices resulting in the most advanced and amenitized office building in Chicago. With an average floor plate size of 24,500 rentable square feet, the building will offer efficient planning for a variety of office users. Amenities will include a club-quality fitness center with locker rooms and showers, a conference center with multiple configurations and capacity sizes, a tenant lounge and approximately 25,000 square feet of commercial retail space, including a variety of food and beverage concepts.
Hines Midwest Region CEO Kevin Shannahan added, “This will be our third partnership with Salesforce and Pelli Clarke Pelli. We are thrilled to bring this relationship to Chicago after the success of Salesforce Tower and the recently announced Parcel F project in San Francisco.”
“For 60 years, the Kennedys have been looking for not just a tenant, but instead a company that sees itself broadly as a civic leader. We have been looking for a development partner who sees themselves not as a construction manager, but instead as a community builder. In our anchor tenant, Salesforce, and in our partner, Hines, we have a civic leader and a community builder, and we are ready to commit to our city with the best tenant in the best building in the best location in the best city in America.,” commented Chris Kennedy.
Salesforce, the global CRM leader, empowers companies to connect with their customers in a whole new way. For more information about Salesforce (NYSE: CRM), visit: www.salesforce.com.
Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 207 cities in 24 countries. Hines has approximately $116.4 billion of assets under management, including $64 billion for which Hines provides fiduciary investment management services, and $52.4 billion for which Hines provides third-party property-level services. The firm has 109 developments currently underway around the world. Historically, Hines has developed, redeveloped or acquired 1,319 properties, totaling over 431 million square feet. The firm’s current property and asset management portfolio includes 527 properties, representing over 224 million square feet. With extensive experience in investments across the risk spectrum and all property types, and a pioneering commitment to sustainability, Hines is one of the largest and most-respected real estate organizations in the world. Visit www.hines.com for more information.