Franklin St Properties Updates Investors on Status of 303 East Wacker Dr

In a letter sent to shareholders on Wednesday, George J. Carter, President of FSP 303 East Wacker Drive Corp, a subsidiary of Boston-based Franklin St Properties, updated investors on the status of 303 East Wacker in Chicago, which is about 56 percent leased following major departures from Groupon and KPMG over the past two years.

Carter says the company did finalize a new lease with FirstService Residential for 13,759 square feet in building during the second quarter, and an existing tenant, National Tax Search, expanded by approximately 13,000 square feet.

But Carter says the East Loop continues to struggle attracting large prospective users.

The 700-word letter from Carter can be read in its entirety by clicking here.