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Healthcare Tenant Inks Sublease Deal at River North Point
Avison Young negotiated a 30,000-square-foot headquarters lease for Healthcare Information and Management Systems Society (HIMSS) in Chicago. The tenant is moving into sublease space at River North Point, the former Apparel Center at 350 N. Orleans St.
It’s one of the largest sublease spaces absorbed year-to-date in this section of downtown Chicago, where 6.1 million square feet of office sublease space is on the market.
“The COVID pandemic provided an unusual opportunity for HIMSS to take advantage of a dramatic downturn in the real estate market,” said Chad Bermingham, a VP of Avison Young in Chicago, who represented HIMSS. “We found multiple opportunities to significantly lower occupancy costs and still allow room for planned growth, while also improving the overall office environment.
“HIMSS was ahead of the curve and had already established a work-from-home model, so their space requirements didn’t change because of the pandemic,” he continued.
Photo courtesy of Shorenstein.
- ◦Lease
