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Zurich Hires JLL to Sublease HQ Space in Schaumburg
Zurich North America is looking to sublease nearly half of its Schaumburg headquarters office space on the sublease market, reported Crain’s Chicago Business. The provider of commercial property-casualty insurance solutions and services in the U.S. and Canada seemingly joins the ranks of corporations looking to downsize office space.
The insurance company has hired JLL to market almost 362,974 square feet at 1299 Zurich Way in the northwest suburb. Currently, Zurich leases the entire building, which is around 783,000 square feet in total.
The company decided to sublease a big chunk of its headquarters “after a thorough real estate assessment that realized significant, positive operational and financial benefits for our business, while also continuing to provide a working environment that accommodates different employee working styles, as well as encourages collaboration, efficiency, and engagement,” a Zurich spokeswoman told the outlet.
Zurich originally opened the $333 million Schaumburg headquarters in 2016.
