Law Firm Extends Lease Through 2035 and Expands Space by 13,215 SF
March 25, 2021
CHICAGO – Transwestern Real Estate Services (TRS) announces that it has brokered a 13,215-square-foot expansion and lease renewal for Ice Miller LLP, an Indianapolis-based law firm, at 200 W. Madison in Chicago’s West Loop submarket. This expansion brings Ice Miller’s total space within the building to 36,112 square feet. Senior Vice President Jeff Dowdell and Executive Vice President Eric Myers provided leasing services on behalf of BentallGreenOak.
“We are pleased to have worked with BentallGreenOak, Ice Miller, and JLL to develop a creative lease structure and solution for Ice Miller, especially during a pandemic,” said Dowdell. “Not only does this provide Ice Miller the opportunity to invest in new and efficient space, but both parties were able to identify a path for expansion in the future, which was paramount to Ice Miller’s decision to stay long term at the building.”
Ice Miller has been a tenant at 200 W. Madison since 2005, and the firm has extended its lease through 2035. Transwestern’s leasing team worked with the tenant representative team to provide structured expansion options that were in line with Ice Miller’s overall strategy.
“Ice Miller’s growing presence at 200 W. Madison demonstrates the strength of this first-class tenant and a successful outcome to a deal that looks to the future with optimism,” said Scott Matthews, Managing Director for Asset Management at BentallGreenOak. “We are pleased to support the continued growth and long-term aspirations of Ice Miller with flexible and creative leasing terms that will enable our tenant and their employees to call our building home for many years to come.”
The tenant plans to fully redesign and rebuild its premises and will install an internal staircase to connect its full floor space on the 35th floor to its expanded space on the 36th floor.
“Ice Miller has enjoyed tremendous growth in our Chicago office, doubling in size from 22 to 45 attorneys in the last two years alone. We needed to find additional space to accommodate our expansion plans,” said Ice Miller office managing partner John Burke. “Our team will enjoy continuing to work in a location that is close to the CTA and Metra transportation hubs and within walking distance for those who live downtown. We also enjoy its proximity to City Hall and the state and federal courthouses.”
200 W. Madison is a 928,040-square-foot, LEED-certified, Class A office building exclusively leased by Transwestern. The property offers amenities including a newly renovated tenant lounge, fitness center and yoga room, an on-site Starbucks and a secured and heated bike room. It is located within walking distance to the Washington/Wells, Quincy, Monroe, Jackson and Washington “L” stations.
Ice Miller LLP is a full-service law firm based in Indianapolis with offices in Chicago and DuPage County; Columbus, Ohio; New York; Philadelphia; and Washington, D.C. The firm was represented by Corey Siegrist, Bill Rogers and Brian Means of JLL in the transaction.
About Transwestern Real Estate Services
Transwestern Real Estate Services (TRS) adds value for investors, owners and occupiers of all commercial property types through a comprehensive perspective and by providing solutions grounded in sound market intelligence. Part of the Transwestern companies, the firm applies a consultative approach to Agency Leasing, Asset Services, Tenant Advisory + Workplace Solutions, Capital Markets, and Research & Investment Analytics.
The privately held Transwestern companies have been delivering a higher level of personalized service and innovative real estate solutions since 1978. An integrated approach formed from fresh ideas drives value for clients across commercial real estate services, development, investment management and opportunistic programs for high-net-worth investors. The firm operates through 34 U.S. offices and global alliances with BNP Paribas Real Estate and Devencore. Learn more at transwestern.com and @Transwestern.
BentallGreenOak is a leading, global real estate investment management advisor and a globally-recognized provider of real estate services. BentallGreenOak serves the interests of more than 750 institutional clients with expertise in the asset management of office, industrial, multi-residential, retail and hotel property across the globe. BentallGreenOak has offices in 24 cities across twelve countries with deep, local knowledge, experience, and extensive networks in the regions where we invest in and manage real estate assets on behalf of our clients. BentallGreenOak is a part of SLC Management, which is the institutional alternatives and traditional asset management business of Sun Life.
For more information, please visit www.bentallgreenoak.com