Blackstone To Invest $500M In Willis Tower Revamp

Law360, New York (February 2, 2017, 1:27 PM EST) -- Private equity giant The Blackstone Group LP on Wednesday said that it will spend $500 million on a major modernization of the Willis Tower in Chicago, two years after buying the second largest building in the U.S. for a reported $1.3 billion.

Renovation plans include the reconfiguration of about 460,000 square feet of space in the 110-story building, which will add a new fitness center, tenant lounges and private event space, according to a statement from Blackstone announcing the revamp. The plans also include the addition of more than 300,000 square feet of retail, dining and entertainment space at the base...

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