MB Real Estate Expands Alzheimer's Association Lease at Michigan Plaza
Chicago | August 04, 2016
CHICAGO—August 4, 2016 – MB Real Estate Services Inc. (MBRE) announced today the expansion and extension of the Alzheimer’s Association lease at 225 N. Michigan Avenue (Michigan Plaza) in Chicago. A tenant since 2003, Alzheimer’s Association added 16,474 square feet to its previous 62,043 square foot commitment. The expanded lease of 78,517 square feet was extended through March 2030.
Formed in 1980, Alzheimer’s Association works on a global, national and local level to enhance care and support for all those affected by Alzheimer’s and other dementias.
“Alzheimer’s Association has been a key tenant at Michigan Plaza for over 14 years,” noted Kathleen Bertrand, senior vice president of MBRE’s Leasing Services. “In today’s highly competitive real estate market, it is particularly gratifying to have such a valued tenant expand and extend their relationship.”
Bertrand represented building ownership in the transaction along with Mark A. Buth, executive vice president and managing director of MBRE’s Leasing Services. John J. Goodman and Richard S. Schuham of Savills Studley represented Alzheimer’s Association.
Leased and managed by MBRE, Michigan Plaza is a Class A, two-building office complex totaling two million rentable square feet. MBRE has signed over 380,000 square feet of leases within the past 12 months at the complex, including Exp US Global Services’ 67,692 square foot extension and InTouch Solutions’ 55,113 sf expansion and extension.
Located in the East Loop, Michigan Plaza is 2 million square feet and comprised of 205 N. Michigan Avenue, a 44-story tower, and 225 N. Michigan Avenue, a 25-story tower. The complex was designed by Fujikawa Johnson & Associates and offers modern amenities such as a 10,000 square foot fitness center, a 4,000 square foot conference center, emergency child care facility, entrance to the East Loop ped-way as well as indoor access to more than 25 restaurants.
About MB Real Estate Services Inc.
Founded in 1982, MB Real Estate is a full-service real estate organization that provides multifaceted expertise in Asset/Facilities Management; Leasing Services; Project/Construction Management; Tenant Representation; and Investment Services. Headquartered in Chicago, with regional offices in New York, Atlanta and Denver, MB Real Estate provides these services to corporations, institutions, professional organizations, private investors, and non-profit agencies. For more information, please visit www.mbres.com.