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Tower isn't sky-high; Trizec cuts aggressive rent deals to hold onto tenants.(News)(at Sears Tower)
Crain's Chicago Business, October, 2003
Byline: ALBY GALLUN The Sears Tower is like an Armani suit that has been moved to the discount rack. The 110-story tower on South Wacker Drive historically has commanded premium rents from image-conscious tenants captivated by its cachet, breathtaking views and broad selection of amenities.
Yet, after losing high-profile tenants like Goldman Sachs & Co. in the wake of Sept. 11, leasing agents for the landmark building are offering bargain rents to entice more tenants to stay put, real estate sources say. Some big tenants are at stake, including Bank of America Corp., which leases about 181,000 square feet in the skyscraper, and law firm Schiff Hardin & Waite, which leases 193,000 square feet. Both are scouting the downtown office market for new space....
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