CHICAGO – MB Real Estate is pleased to announce the firm’s leasing group has increased occupancy at the Inland Steel building by 40% bringing the current leased percentage to over 85%. MB Real Estate has managed and leased the building, located at 30 W. Monroe, on behalf of Capital Properties Management, Inc. since February 2012.
When MB Real Estate obtained the leasing assignment last year, the 234,980 square foot, 19-story, Class A office property was 45% leased while the look, feel and functionality of the Inland Steel building were being elevated through the renovation of elevator lobbies; high-end, eco-friendly bathroom facilities; a new sustainable green roof, perimeter HVAC upgrades and the addition of high-efficiency lighting throughout the building.
Recognizing the potential of the property for its architectural significance, efficient floor plans and recently launched significant renovation and modernization, MB Real Estate implemented a newly branded and aggressive leasing campaign to reposition the building “This is a great property with a premier location, superior architecture and a history of innovative features and amenities,” said Gary Denenberg, executive vice president and managing director of leasing for MB Real Estate. “We’ve closed 13 new leases at the building since last year with roughly 100,000 square feet leased in the first twelve months.”
Recent leases at the property include such notable transactions as the 9,400 square foot lease to Nelson Architects; a 9,800 square foot lease to Kerns Frost & Pearlman; a 12,900 square foot lease to Asset Allocation Management; and a 12,900 square foot lease for the Jacobson Group. Denenberg and Vice President Sara Spicklemire represented ownership in the lease transactions.
Additionally, as property manager, MB Real Estate has helped to implement numerous changes at the building with a focus on creating a forward thinking, class A work environment for building tenants. The Inland Steel building now offers a high-end fitness center on the second floor, in addition to a unique conference center through a partnership with Workspring, providing an enhanced workspace built for co-working, collaborative meetings, long-term projects and events.
The property’s new retail tenant, Specialty’s Café, which opened on the first floor in April of this year, now also serves as an amenity to the tenants as does the addition of ZIP Car service in the building garage.
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; Corporate Services/Tenant Advisory; Investment Services; and Project/Development Services. Headquartered in Chicago, with a regional office in New York City, 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.