Quote:
Originally Posted by honte
Well, if you read between the lines, Blair currently leases roughly 288,000 sq. ft. of space. So, this is a fairly significant expansion for them, and a big stamp of approval for downtown and their prospects for growth here. I'd say it does "do" a lot for downtown.
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Eh. William Blair is an investment bank. Investment banks don't
do suburbs. And please don't mention Goldman Sachs' Jersey City tower - that's back office folks, not actual bankers. There was some discussion about moving bankers, but they realized it would have caused an insurrection and made everyone leave.
So William Blair moving to this tower really says nothing aside from either:
1. They didn't like their space in the USG tower.
2. They need more room than they can get in the USG tower.
3. They'll be paying materially less for space in this tower.
That's it. It's not really a stamp of approval for the downtown market vs. any other market in the metro area. And investment banks open satellite offices, but they don't just up and move cities. So basically as long as there is a William Blair & Co., it will be headquartered in downtown Chicago.