After signing a lease to move its Chicago office to a 60-story office tower along the Chicago River, the world’s largest commercial real estate brokerage is hiring the leasing team from Irvine Co. that landed the deal.
CBRE has hired Irvine’s three-person office leasing team in Chicago, where they will continue to oversee leasing in the Newport Beach, California-based real estate investor’s 4.45 million-square-foot portfolio in Chicago, the companies announced Tuesday.
Greg Tait and Maggie Brophy will join CBRE as executive vice presidents, with Jamion Hartley taking the title of first vice president.
“Adding this team is a tremendous opportunity for our clients and our office,” Kevin Collins, executive managing director of CBRE’s Chicago office, said in a statement from the companies. “Irvine Co. has made a name for itself by investing in elevated workplaces that drive leasing in today’s market. The team’s experience and insight in creating dynamic work environments will strengthen our ability to deliver market-leading results for a diverse range of clients across the city.”
The move comes less than three months after CBRE confirmed plans to move its Chicago office to one of Irvine’s trophy buildings in the city, leasing almost 55,000 square feet in the 60-story tower at 300 N. LaSalle St.
In a deal first reported by CoStar News in late 2024, CBRE is set to move to 300 N. LaSalle later this year from the nearby tower at 321 N. Clark St.
CBRE also will take over as property manager for 300 N. LaSalle in September, according to a statement from CBRE and Irvine.
Big commercial brokers typically prefer to have the leasing assignment in buildings where they are tenants. The deal with Irvine comes with the twist of Irvine outsourcing its Chicago leasing entirely to CBRE.
About 407,000 square feet remains available for lease at 300 N. LaSalle, according to the statement. Irvine’s other Chicago towers are the 51-story tower at 1 N. Wacker Drive, which has about 63,000 square feet available, and the 48-story building at 71 S. Wacker, with about 108,000 square feet available.
"CBRE’s market expertise positions them as an ideal partner to drive continued leasing momentum at our premier Chicago trophy towers," Roger DeWames, president of Irvine Co. Office Properties, said in the statement. "Our in-house Chicago leasing team will be joining CBRE as part of this partnership, ensuring a seamless transition in representing our Chicago portfolio and our commitment to providing best-in-class service to our customers."
CBRE’s lease is part of a wave of leases in the tower at 300 N. LaSalle to replace two huge tenants — law firm Kirkland & Ellis and Boston Consulting Group — that signed deals in new towers on the Wolf Point site along the river and in Fulton Market, respectively.
Other firms joining CBRE as new tenants at 300 N. LaSalle include law firm Winston & Strawn and real estate investment trust Ventas. The real estate investment firm led by billionaire Donald Bren in 2023 announced plans to invest $30 million in upgrades including an expansion of steakhouse Chicago’s Cut at the base of the tower and other indoor and outdoor amenities.
Last year, Irvine paid off $475 million in commercial mortgage-backed securities debt on 300 N. LaSalle as the loan was maturing.
CBRE’s new space on the sixth and seventh floors will feature an outdoor terrace overlooking the river.