The decision by the owners of the Sears Tower to rename it the Willis Tower after leasing only 140,000 square feet to Willis Group Holdings Ltd. was the talk of the Chicago commercial real estate community last week. Some executives thought it might be a good move, considering the building’s well-publicized occupancy problems, but others believed it was a mistake and that abandoning such a famous name may have devalued the property.
March 16, 2009
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