Willis Tower Repositioning Team Announced: The Telos Group and CBRE Tapped to Reposition Chicago's Iconic Skyscraper, Equity Office Will Manage the Property

CHICAGO, June 8, 2015 /PRNewswire/ -- The Telos Group and CBRE today announced that they had been selected by Blackstone (NYSE:BX) to reposition the office, retail and entertainment at the iconic Willis Tower in Chicago. Blackstone closed the acquisition of the mixed-use tower on June 5, and intends to begin this repositioning immediately. The execution team will also include Equity Office, an affiliate of Blackstone, as property management for the 4.5 million square feet of office, retail and entertainment space, which includes the famed Skydeck. Chicago-based Telos Group, LLC will be responsible for the strategic repositioning and leasing of the 3.8 million square feet of office space, and CBRE will be responsible for leasing in the retail and entertainment complex, anchored by the Skydeck.

Plans for the project include significant expansion of the building's retail and entertainment offerings and a completely reimagined office environment. The offices will combine extraordinary office space with enhanced lifestyle amenities geared toward a rapidly-changing and demanding workforce.  

Brian Whiting, President of The Telos Group, emphasized, "There is no better owner than Blackstone to reignite the massive potential of Willis Tower. The building's scale, identity and history require an ownership that is well capitalized, forward thinking and very creative. We could not be happier to be part of Blackstone's vision to transform Willis Tower into Chicago's hottest office and retail center." 

Todd Siegel, First Vice President of CBRE, stated, "Blackstone has an incredible vision for the repositioning of the retail space at the iconic Willis Tower and we are excited to embark on this endeavor with them." Siegel continued, "We are confident that this partnership will yield exceptional results and deliver a new standard for retail offerings in Chicago."

About The Telos Group, LLC
The Telos Group, LLC provides leasing, marketing and consulting services in Chicago and consulting services for real estate businesses nationwide. Telos employs a disciplined and goal driven process to create entrepreneurial solutions customized for each assignment. As Chicago's only dedicated owner representation firm, it has been the leader in shaping the evolution of office space for innovative businesses. Telos represents a portfolio of 18 million square feet encompassing historic to trophy buildings owned by diverse ownership groups, from entrepreneurial investor consortiums to international institutions. The firm was awarded Office Property Representative of the Year for 2012, 2013 and 2014 by the Chicago Commercial Real Estate Awards.  To learn more about The Telos Group LLC, visit www.telosgroupllc.com.

About Equity Office
Equity Office is a Chicago-based owner of office space across the United States.  The company focuses heavily on meeting the current trends and changing strategic needs of companies and our chosen markets.  Equity's regional leaders head teams with deep experience across the board from investment and asset management, to property management, development and construction.  The company is an affiliate of The Blackstone Group.  To learn more about Equity Office, visit www.equityoffice.com

About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world's largest commercial real estate services and investment firm (in terms of 2014 revenue). The Company has more than 52,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 370 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. To learn more about CBRE Group, Inc, visit www.cbre.com

SOURCE The Telos Group, LLC

Related Links

http://www.telosgroupllc.com

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