Lundbeck U.S.

Client Situation

Lundbeck, known for its revolutionary research and development in the pharmaceutical industry, retained Savills Studley to assist in the expansion and renewal of its lease of its North American Headquarters. Lundbeck had been a tenant in the Four Parkway North building for over decade, occupying 69,000 square feet and were looking to expand to an additional 10,000 square feet.

Consideration Analysis

To address Lundbeck’s top priorities, Savills Studley researched numerous alternatives in the market place creating viable relocation options for the firm to leverage Lundbeck’s alternative options, should the Four Parkway North building choose not to comply with Lundbeck’s conditions in renewing.

Result

Savills Studley succeeded in negotiating favorable lease terms that fully clarified Lundbeck’s long term vision for the headquarters facility and effectively achieved a transaction that served the organization’s mission for the foreseeable future. The flexibility in the leasing terms allowed Lundbeck to expand into more space and simultaneously optimize its existing space through more efficient usage. In addition, Lundbeck was able to continue the trend of creating more efficient, collaborative and productive space.

Summary Information

  • Property: Four Parkway North, Chicago, IL
  • Transaction Size: 79,000 s/f
  • Transaction Type: Lease Expansion, Renewal
  • Service Line: Office

Meet the Team

Schuham, Rick

Schuham, Rick

Executive Vice President, Director, Central Region Lead
312.595.2913

Goodman, John

Goodman, John

Executive Vice President, Managing Broker
312.595.2902