Founded in 1999, and headquartered at 980 North Michigan Avenue (980) in Chicago, Illinois, Geneva is a global principal trading firm which trades its own capital. Geneva is guided by a management team with deep knowledge and experience in the derivatives industry.

Assignment

In May, 2010, Geneva announced a merger with Mercury Holdings Group, LLC, a proprietary trading and technology company with approximately 5,000 square feet of space under lease at the Chicago Board of Trading Building. HDREP served as Mercury Holdings Group’s exclusive agent and was retained by Geneva Trading to evaluate a consolidation of both offices.

Result

After a thorough review of the lease agreements for both buildings and several meetings with the management team, it was determined that, while 980 offered and, although 980 could accommodate the merger growth of the expanded company, the location of the building was not desirable for the company’s new direction.
HDREP placed the 980 space on the sublease market and commenced an aggressive campaign in the Central and West Loop markets to attract prospective landlords interested in assuming Geneva’s five year lease obligation at 980 in return for a larger ten year commitment. At present, HDREP is in active conversations with three separate landlords, and hopes to execute a new lease transaction for Geneva within the coming months.