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lexpoint Ford has chosen to leave its office space on Michigan Avenue for a larger location in Chicago's West Loop. The private equity firm will occupy nearly 20,000 square feet on the 38th floor of 155 North Wacker Drive, according to Crain's. This move marks another departure from the iconic Magnificent Mile, which has seen declining office demand in recent years.

    Flexpoint Ford's decision is part of a larger trend as companies increasingly relocate to the West Loop. The area offers modern office buildings, convenient public transportation access, and a thriving business environment, making it Chicago's new office market hub. Other notable tenants in the Buck-owned tower include Ryan Specialty Group, UL Solutions, and FTI Consulting.

    The building is nearing full occupancy, with 95% of its space already leased prior to Flexpoint Ford's deal. In contrast, buildings along Michigan Avenue are facing challenges attracting tenants due to increasing vacancies as businesses opt for newer locations. The downtown Chicago office vacancy rate was 25.8% in the third quarter of last year.

    Flexpoint Ford is not alone in leaving Michigan Avenue; other notable firms have made similar moves, including Interpublic Group, Valor Equity Partners, and law firm Crowell & Moring.