10:00 AM
Newmark is pleased to announce that it has successfully advised Iterum Therapeutics US Limited (“Iterum Therapeutics”), US subsidiary of Iterum Therapeutics plc, in leasing 10,318 square feet at 200 S. Wacker Drive in Chicago for its U.S. headquarters.
Headquartered in Dublin, Ireland, Iterum Therapeutics plc is a publicly traded (NASDAQ: ITRM) clinical-stage pharmaceutical company dedicated to developing anti-infectives aimed at combatting the global crisis of multi-drug resistant pathogens. Iterum has been working with Newmark to secure all of its strategic facilities.
Relocating from 200 W. Monroe Street in Chicago, Iterum Therapeutics, worked with Newmark to find larger, more flexible space for its fast-growing U.S. headquarters needs. Newmark Executive Managing Director Geoffrey Kasselman, SIOR, LEED AP, and Director Matthew Whipple led the brokerage team representing Iterum Therapeutics, along with Newmark Vice Chairmen Bob Chodos, SIOR and Steve Levitas. The team provided site selection services, along with lease negotiations and financial analyses, ultimately securing the long-term lease at 200 S. Wacker Drive based on its West Loop location and flexible lease terms. Iterum Therapeutics recently took occupancy of the new Class A space, having already occupied interim “swing space” at 200 S. Wacker Drive to bridge the gap until their new space was ready. Ironically, some Iterum Therapeutics executives previously designed and occupied the same suite within 200 S. Wacker when they were with a different biopharmaceutical company, resulting in a “serendipitous homecoming” of sorts for the executives.
“The Newmark team scoured the market and generated several creative opportunities for us, but when this familiar space was presented near the trains and fully furnished, we knew in our hearts that this is where we wanted to be,” noted CEO of Iterum Therapeutics plc, Corey Fishman. “We are grateful that it worked out like it did.”
“We are pleased to have helped Iterum Therapeutics once again,” said Kasselman, who has previously worked with Iterum Therapeutics on its other real estate needs. “It is gratifying to support the firm’s growth in any capacity.”
About Iterum Therapeutics plc
Iterum Therapeutics plc is an Irish clinical-stage pharmaceutical company dedicated to developing anti-infectives aimed at combatting the global crisis of multi-drug resistant pathogens.
About Newmark
Newmark (“Newmark”), operated by Newmark Group, Inc. (“Newmark Group”) (NASDAQ: NMRK), is one of the world’s leading and most trusted commercial real estate advisory firms, offering a complete suite of services and products for both owners and occupiers. Together with London-based partner Knight Frank and independently-owned offices, Newmark’s 16,000 professionals operate from approximately 430 offices on six continents. Newmark’s investor/owner services and products include investment sales, agency leasing, property management, valuation and advisory, diligence, underwriting, government-sponsored enterprise lending, loan servicing, debt and structured finance and loan sales. Occupier services and products include tenant representation, real estate management technology systems, workplace and occupancy strategy, global corporate services consulting, project management, lease administration and facilities management. For further information, visit www.ngkf.com. Newmark Group is a publicly traded subsidiary of BGC Partners, Inc. (“BGC”) (NASDAQ: BGCP), a leading global brokerage company servicing the financial and real estate markets.
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