June 08--Willis Tower is set to get more retail and entertainment options and reconfigured office space for tenants, following the acquisition of Chicago's iconic skyscraper by Blackstone Group.
A team that will take on the repositioning of the 4.5 million-square-foot tower was announced Monday. The Telos Group will retool Willis' 3.5 million square feet of office space, with the goal of adding common space and shared amenities for office tenants, while CBRE will work to expand the list of retail and entertainment offerings. Equity Office, an affiliate of Blackstone, will manage the building.
Blackstone closed on its purchase of Willis on June 5. News reports have put the purchase price in the range of $1.3 billion.
