Transwestern Retains Anchor Tenant at Chicago Office Building
- May 10, 2017
Transwestern brokered a lease renewal on behalf of Bentall Kennedy (U.S.) Ltd. for one of its office buildings in downtown Chicago, 200 W. Madison. Law firm Barack Ferrazzano Kirschbaum & Nagelberg LLP, the property’s anchor tenant for 10 years, will continue to occupy 99,756 square feet in the tower through 2032.
A team led by Transwestern senior vice presidents Jeff Dowdell, Katie Steele and Courtney Rosoff together with Executive Vice President Michael Lirtzman represented the owner. CBRE’s Kyle Kamin, Cal Wessman and Mark Cassata worked on behalf of the tenant.
The new lease agreement stipulates that funds will be allocated to modernize the leased space. Transwestern, which has been managing 200 W. Madison since 2011, already shelled out $5 million for renovation work, which brought the office tower the “Outstanding Building of the Year” award last year. Improvements included a new lounge room, an updated lobby and an expanded fitness center with yoga room. The property management firm also implemented a LEED Performance Path system which was used to achieve LEED Gold recertification.
Last month, Transwestern joined forces with Bentall Kennedy to provide management services for two other properties in downtown Chicago.
Image courtesy of Transwestern