What's In A Name?

Remember when tech-centric names were trendy? Everything was e-this and i-that and Net-something. Not any more. This week the Chicago mixed-use development known as e-port underwent a name change. The 1.5 million square foot project will now be known simply as 600 West, which the developers hope will attract more non-tech tenants to the site, which is reportedly about 40 percent leased.

A similar fate has befallen many projects that were designed for high-tech/telecom tenants that never materialized. As the telecom meltdown accelerated, many of these projects shifted strategy and began pursuing alternate use tenants, primarily office leases. As a result, all those "technology centers" have adopted more conventional names.

It may be true that a tech-friendly moniker is a barrier to interest from traditional retail and office tenants. Perhaps the notion of a wired building represents higher rents in the minds of many of these tenants. But it's fair to say that the anemic leasing in the tech sector has left a bad taste in the mouth of many developers and leasing agents. The name becomes a symbol of a failed flirtation, and dumping the name is one way to sever links to that past and get a fresh start.