Consulting firm renews at 225 W. Wacker, while a former headquarters is sold to private school
CHICAGO, JANUARY 17, 2011—MB Real Estate’s Corporate Services & Tenant Advisory group represented True Partners Consulting in a 31,594 square foot lease renewal at 225 West Wacker in Chicago and General Board of Pension & Health Benefits of The United Methodist Church (GBOPHB) in the sale of its former headquarters at 1200 Davis Street in Evanston, Ill.
MB Real Estate’s Assistant Vice President Kyle Robbins, Executive Vice President/Managing Director Andrew Davidson and Vice President David Burkards negotiated a lease renewal for True Partners Consulting, which allowed the tax and business advisory firm to reduce its size in exchange for a lease extension.
“We were able to leverage our client’s termination option and receive upfront concessions, which allowed the building to secure a long-term extension from one of its major tenants,” said Robbins. “It’s the type of transaction that is representative of today’s marketplace.”
Steve Smith and Monica Moore of Jones Lang LaSalle represented the landlord of the 31-story, 651,000 square foot office building.
Additionally, the Corporate Services & Tenant Advisory group, led by Andrew Davidson and Senior Vice President Jay Beadle, represented GBOPHB in the sale of one of its two former headquarter facilities at 1200 Davis Street in Evanston, Ill. The 68,000 square foot building was purchased by Roycemore School, who was represented by Randy Podolsky, Melissa Podolsky and Adam Tarantur of Podolsky Northstar CORFAC International. The private school plans to move from its current location at 640 Lincoln Avenue in Evanston in late 2011.
In 2008, MB Real Estate’s Corporate Services and Project Services group represented GBOPHB on the acquisition and development of a 25-acre site in Glenview, Ill., where they recently completed a new 110,000 square foot headquarters for the not-for-profit organization.
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