PNC Bank, the Chicago area’s fourth-biggest bank, is stepping up its profile in downtown Chicago.
The Pittsburgh-based bank, which now occupies about 80,000 square feet at One North Franklin, has signed a new lease that will increase its presence at the Tishman Speyer property to 116,000-square-feet over the next two years, with a term extension until 2022.
PNC is now the largest tenant in the 36-story building, which will become “PNC Centre”. The new name will be featured above the building’s entrance and on a sidewalk monument.
PNC said it needs a bigger office because it’s adding an undisclosed number of jobs in retail and business banking, as well as wealth management. PNC has said it’s adding 60 branches over five years in the Chicago area.
“Chicago is a major growth market for PNC, and we are expanding our downtown headquarters to enable us to continue to serve clients in a premier office environment,” Joseph Gregoire, regional president for PNC Bank in Chicago, said in a statement. “Adding our name to the building is a reflection of our long-term commitment to Chicago and provides us with greater visibility in one of the most high traffic sections of the Loop.”
Designed by Skidmore Owings & Merrill, the One North Franklin building has 617,000-square-feet.