CB Richard Ellis, Sears Tower to end lease deal
The owner of Chicago’s Sears Tower, the tallest building in North America, will end its agreement with CB Richard Ellis Group Inc. as the building’s management and leasing agent at the end of the year.
The Sears Tower’s ownership group is interviewing brokerage firms to handle the account. Los Angeles-based CB Richard Ellis, which last month agreed to buy Trammel Crow Co. for $1.9 billion, will remain the leasing agent until a new one is hired.
The Sears Tower has struggled to attract tenants because of concerns about terrorism after the Sept. 11 attacks and competition from newer buildings in downtown Chicago.
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