Thoma Bravo moves out of Willis Tower

Posted April 19, 2010 at 4:01 p.m.

By Becky YerakThoma Bravo is becoming the second private equity firm in the past year to move out of Willis Tower, formerly known as Sears Tower, and into a new office building at 300 N. LaSalle. About a year ago GTCR Golder Rauner LLC also left Willis for 300 N. LaSalle.

“Our 10-year lease was up, and we felt that the quality of the Sears (Willis) Tower had dropped,” a Thoma spokesman said.

He also cited other factors: inconvenient security for visitors; tourists now allowed in what had been the business lobbies; and “poor maintenance” of many common areas.

“At the same time, many members of our staff preferred to be north of the river and 300 North is becoming somewhat of the new private equity neighborhood,” he said.

Thoma has been in 9200 Sears Tower. At 300 N. LaSalle, it will be in suite 4350.

A spokeswoman for Willis Tower said it’s common for tenants to move out for business reasons.

“Willis Tower continues to experience significant growth in new and expanded leases,” she said. “People are responding positively to the changes at this iconic building.”

Thoma’s portfolio companies include Local Media of America LLC, a San Diego radio operator; American-Amicable, a Waco, Texas-based seller of life insurance products; and Excelligence, a Monterey, Calif.-based developer, maker and retailer of educational products for child care programs, preschools, elementary schools and consumers by catalog, online and through a field sales force. It also owns Schaumburg-based Flexera Software.

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One comment:

  1. Sue April 20, 2010 at 2:57 pm

    I was a guest of a client in the Willis Tower a few months ago and I had all the information (contact name, phone no, etc.) and I was told by their security I had to call the contact name and let them know I was there and they were to come and get me. The security had my name, the client contact name and phone number, but there were chitty chatty with each other to take care of guests. While I was standing there, they did the same thing to another guest. Maybe Willis management better get some more friendlier and knowledgeable security than what they have. I was not impressed.