CHICAGO (STL.News) – Holly Duran Real Estate Partners LLC (HDREP) announced today that the firm has represented Cboe Global Markets, Inc., one of the world’s largest exchange holding companies, in the leasing of approximately 185,000 square feet for the exchange’s new global headquarters at Chicago’s Old Post Office at 433 W. Van Buren St. Cboe announced the major transaction today.
HDREP simultaneously represented Cboe in the newly signed approximately 40,000 square-foot lease at 141 W. Jackson, known as the historic Chicago Board of Trade (CBOT) Building. Cboe will build its new trading floor on the seventh and eighth floors to support S&P 500 Index (SPX) options and the Cboe Volatility Index (VIX) options markets.
Both transactions are long-term leases with built-in flexibility and have robust infrastructure associated with the sites. HDREP managing broker Holly Duran, along with partner Jeff Mulder, represented Cboe in the transactions. In addition, Cboe has retained HDREP for the sale of its current 300,000 square-foot headquarters building at 400 S. LaSalle St., in partnership with Bruce Miller, International Director of JLL Capital Markets.
Brian Schell, Executive Vice President, CFO and Treasurer of Cboe Global Markets, said: “Cboe is grateful for HDREP’s partnership in helping us find new headquarters and trading floor locations with state-of-the-art infrastructure and amenities beyond what we’ve been able to offer in the past. The experienced team worked diligently to ensure our real estate strategy aligns closely with our plans for the future.”
Holly Duran said: “We are truly honored that Cboe has entrusted us with this complex strategic assignment encompassing two significant lease transactions and the pending sale of its headquarters facility. It’s gratifying that under a tight deadline, we were able to execute this project and deliver results that exceeded our client’s expectations. The forward-thinking executive team has taken exactly the right path in making this bold move and provided a new avenue for attracting and retaining top-tier talent.”
HDREP specializes in tenant transactions with a unique focus on the futures, options and derivatives industry, with clients including Cboe Global Markets; CME Group, which the firm has represented for more than three decades; OCC, the world’s largest equity derivatives clearing organization; BOX Options Market LLC and other exchanges, along with brokerage and trading firms and others in the industry. Since CME Group’s sale of its 1.3 million square-foot historic CBOT Building in 2012 for $151 million, HDREP has completed $1.75 billion in transactions with more than 60% attributable to the office and data center needs of financial services clients.
A Certified Women Business Enterprise, the firm averages approximately 600,000 square feet of transaction annually. HDREP also represents a variety of Chicago-based law firms, entrepreneurs, family offices and technology companies. In addition to the Cboe pending headquarters sale, HDREP led the sale of other CME Group properties, including the 500,000 square-foot New York Mercantile Exchange headquarters building in 2013 and the 165,000 square-foot Kansas City Board of Trade building in 2014.
Based in Chicago, Holly Duran Real Estate Partners LLC (www.hdrealestate.com) is a global real estate services firm dedicated to providing innovative, cost-efficient solutions to commercial tenants. The firm has negotiated over 18 million square feet of office, industrial and data center leases in over 65 cities, 36 states and 10 countries, managing transactions and lease portfolios for clients ranging from small professional firms to large multi-national organizations. For more than 35 years, HDREP has built its reputation on long-standing relationships, including an extensive track record of successfully representing industry leaders in the financial and technology space. HDREP provides a full scope of real estate services, including brokerage, site selection, strategic advisory and consulting, investment sales, acquisitions and dispositions, development, real estate finance and analysis, real estate valuation and project management.