Asset a Top Performer in West Loop Submarket
December 03, 2019
CHICAGO – Transwestern Commercial Services (TCS) today announces that its Chicago Agency Leasing team has secured three new long-term leases, totaling 82,013 square feet, at 200 W. Madison in the West Loop. Owned by BentallGreenOak’s U.S. Core Fund, this 928,040-square-foot, LEED-certified, Class A office building is exclusively leased and managed by Transwestern and continues to outperform in the submarket. The addition of these tenants, combined with five recent lease extensions, brings occupancy at the asset to 90%.
The team of Executive Vice President Eric Myers and Senior Vice Presidents Jeff Dowdell and Katie Steele brokered the leases at 200 W. Madison. New tenants include FBRK Impact House, a full-service private members club and office space for the philanthropic community, a national full-service law firm and a multinational Fortune 500 company.
“The ongoing investments ownership has made at 200 W. Madison attract a variety of vibrant, innovative organizations in a highly competitive market,” said Steele. “FBRK Impact House, for example, will accelerate and shape philanthropic efforts in Chicago by bringing grant makers and foundations together under one roof. We are helping them create the space to bring that vision to reality.”
Despite more than 1.3 million square feet of new deliveries in the last two years, the West Loop Class A office market has maintained an 88.4% occupancy rate as of the third quarter. With plans for an expanded fitness center and updated conference center in 2020, 200 W. Madison is positioned to continue to perform at the top of the market. Learn more about the property’s amenities, sustainability initiatives and programming here.
ABOUT TRANSWESTERN COMMERCIAL SERVICES
Transwestern Commercial Services (TCS) is a privately held real estate firm of collaborative entrepreneurs who deliver a higher level of personalized service and innovative client solutions. Applying a consultative approach to Agency Leasing, Asset Services, Occupier Solutions, Capital Markets and Research, our fully integrated global organization adds value for investors, owners and occupiers of all commercial property types. We leverage market insight and operational expertise from across the Transwestern enterprise, which includes firms specializing in development and real estate investment management. TCS has 34 U.S. offices and assists clients from more than 200 offices in 37 countries through strategic alliances with France-based BNP Paribas Real Estate and Canada-based Devencore. Experience Extraordinary at transwestern.com and @Transwestern.