Thursday, March 12, 2009

Last Days For Iconic Sears Tower Name

Marking the end of an era (and another blow to SHLD), the legendary Sears Tower will soon shed its name and will be renamed the Willis Tower. Willis Group has decided to relocate the bulk of its operations to 233 S. Wacker Drive and will initially occupy 140,000 sq. feet in the tallest building of the Wesatern hemisphere. Willis is locking in a nice rent of $14.50/sq. foot. Renaming the building will be an extra benefit, according to Joseph Plumieri, CEO of Willis:
"Having our name associated with Chicago’s most iconic structure underscores our commitment to this great city, and recognizes Chicago’s importance as a major financial hub and international business center."
The news comes as troubled Sears is announcing it is laying off 125 at its own corporate headquarters, and is merely a shadow of its former self, which in 1969 as the largest retailer in the world, commission the construction of the tower. One can only hope this isn't the start of a corporate building renaming trend along the lines of Enron Field (that one didn't end too well) and Candlestick Park (which was less known as 3com park and Monster park over the past 5 years). Sphere: Related Content
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Pete-0 said...

Already being referred to locally as "The Big Willy"