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Transwestern Retains Chicago West Loop Anchor Tenant

05/30/2017
Published By: Ioana Ginsac

 

image of the office tower at 200 West Madison in Chicago photo courtesy of Yardi Matrix

200 West Madison

Transwestern announced it has brokered a 99,756-square-foot lease renewal at 200 West Madison in Chicago, on behalf of Bentall Kennedy U.S.

Law firm Barack Ferrazzano, Kirschbaum & Nagelberg, represented by CBRE, is the Class A office building‘s largest tenant and its renewed lease runs through 2032. The firm originally moved in ten years ago, when it replaced previous anchor tenant Hyatt Hotels Corp.

Founding partner Howard Kirschbaum said in a prepared statement that “this building has been the perfect fit for our firm. It has allowed us to foster growth and enhance our culture, which has directly benefited our clients. With more planned growth on the horizon, this space will continue to position us for success for the foreseeable future. Building ownership and management have done a fantastic job with 200 West Madison, and have been excellent to work with. We look forward to extending this relationship.”

Transwestern has been managing the 45-story, 928,040-square-foot Chicago Loop office towersince 2011 and has recently led building renovation efforts. The $5 million upgrades program included an updated lobby with museum-quality art, a 30-foot green wall and several seating areas, fully modernized elevators, a new tenant lounge/club room and an expanded fitness center with yoga room. Renovation efforts also included sustainability-minded modernization – the building implemented LEED Performance Path (formerly called LEED Dynamic Plaque™), which measures and displays building performance data in real time, allowing occupants to play a more active role in improving the efficiency of the building.

Jeff Dowdell, senior vice president with Transwestern, stated that “Chicago’s downtown office market remains extremely competitive, and this tenant was exploring options including relocation. However, the partners and staff at Barack Ferrazzano, Kirschbaum & Nagelberg have been very happy calling 200 West Madison home, and we were able to reach an agreement that includes funds that can be used to modernize its space for the future.”

street view of the office tower at 200 West Madison in Chicago, image courtesy of Yardi Matrix

200 West Madison

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Release Date05/30/2017 - 06:33

Source

CommercialCafe

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