Chicago & Midwest + Downtown + Office | April 14, 2023

Westinghouse Air Brake Technologies Corporation has extended its lease at Spear Street Capital’s 500 W. Monroe St. in Chicago, committing to a full floor.

Wabtec Signs Full-Floor Lease Extension at 500 W. Monroe

Avison Young and JLL have arranged a 10-year lease extension for Westinghouse Air Brake Technologies Corporation (Wabtec) on a full floor at Spear Street Capital’s 500 W. Monroe St. in downtown Chicago’s West Loop. The 26,976-square-foot lease provides for future space needs.

“Companies are seeking high quality spaces to support the needs of their employees,” said Damla Gerhart, principal and managing director of Avison Young’s Chicago office. “An existing tenant making this lease commitment is a clear indication that our central business district remains resilient, and companies see a bright future ahead,”

Spear Street Capital was represented by a partnership of principal Danny Nikitas and VP Melissa Hemberger, who are based in Avison Young’s Chicago office, and JLL senior managing director Brad Despot and SVP Kerry Middleton. Wabtec was represented by JLL SVP Alexa Jennings and VP Amy Craig and by Phil Geiger, managing director of Stream Realty Partners.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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