My, my, what a great place to build an office tower. Wait a minute! Looks like that's exactly what's being heralded for the site, at the SW corner of Franklin and Randolph. According to the commercial real estate publication Bisnow, Tishman Speyer is working with architect Krueck and Sexton to design a one-million-square-foot office tower for the vacant former site of the Mercantile Exchange building. Back in September, Google was said to be exploring the idea of anchoring a new building here, but there's no further indication of any specific tenants or signed leases. Vicki Noonan, managing director of Tishman Speyer, is cryptic on the matter, telling Bisnow that large office tenants are shopping Downtown and a lack of large blocks makes new development all the more probable.
The feeling espoused by development observers at Skyscraper Page is that not much credit will fly without the commitment of major tenant. That makes sense to us, but this site surely rates high among available development parcels. There's no public rendering just yet, although Noonan assures "the marketing package for the development should be ready by the end of the month". We'll look for a rendering again at that point.
·Time to Build Office; The Deal Sheet [Bisnow]
·Highrise Projects & Construction Thread [Skyscraper Page]