Case Studies

 

Transaction Details

Client
Morton Salt

Property
444 West Lake Street
Chicago, IL

Transaction Size
52,000 square feet

Transaction Type
Lease Relocation

Morton Salt Consolidates HQ and Customer Service Employees Into One 50,000 SF Modern Office

 

Client Situation

Morton Salt, part of the K+S Group, and the leading North American salt producer, retained Savills Studley to assist in the relocation of its North American Headquarters. Morton Salt had been a tenant at 123 North Wacker Drive in downtown Chicago since 2001 and wanted to relocate to a Class A office building to allow Morton Salt to gain maximum efficiency through a new workplace strategy and allow more room for growth.

Consideration Analysis

As a requirement of Morton Salt to remain in the downtown Chicago area, Savills Studley researched numerous spaces in the market place creating viable relocation options. It was crucial that the new headquarters space would be modern, open and high-tech, to ignite a more energized, innovative and collaborative workplace environment the Morton Salt employees desire and deserve.

Result

Savills Studley succeeded in negotiating favorable lease terms that fully clarified Morton Salt’s long term vision for its headquarters facility and effectively achieved a transaction that served the organization’s mission and continued evolution. As part of its long term lease agreement, Morton Salt will lease two floors occupying 52,600 square feet of space in the 52-story tower located at 444 W. Lake Street. The new office space will bring together Morton Salt’s 300 employees from its current downtown headquarters office with its 50 customer service center employees currently based in Oak Brook, Ill. Morton Salt plans to move from its current location at 123 N. Wacker Drive to River Point in December of 2016. The new location allowed Morton Salt to continue the trend of creating more efficient, collaborative and productive space.

 

Meet the Team

Tiffany Winne
Executive Vice President, Designated Broker

Throughout her real estate career, Tiffany has executed transactions totaling over 11.8 million SF with a value of over $3.5 billion across more than 30 markets domestically and abroad. Her career has been devoted solely to representing tenants and helping them turn real estate into a strategic advantage. She serves clients across a wide breadth of industries, including financial services, law, media and technology, health care, and not-for-profits. Tiffany has developed an expertise not only in managing transactions, but also in analyzing and operating complex portfolios in office, industrial and retail sectors for both leasing and sales. Having executed transactions in excess of 6 million square feet, she developed a reputation for solving the complex real estate challenges of organizations spanning many geographies and property types.

+1 602 402 6068

 

Lisa Davidson
Executive Managing Director

Lisa Davidson joined the firm in 1997 and has more than 30 years of experience as an advocate on behalf of commercial tenants in downtown Chicago. Lisa has been continually and consistently recognized as one of Savills Studley’s top performers, executing more than 15 million square feet of transactions throughout her career. An expert in reducing real estate costs for space users, Lisa has a diverse client portfolio that includes professional service firms, major corporations and associations. She has executed transactions on behalf of Morton Salt, Integrys, Alliance Bernstein and ADM, to name a few. Most recently, Lisa was part of the team representing the seller of the Old Post Office in Chicago.

+1 312 595 2943

 

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