MB Real Estate has completed a 43,370-square-foot lease expansion for US Bank at 190 S. LaSalle in Chicago.
The firm’s Andrew Davidson, EVP/managing director, Jay Beadle, SVP and David Burkards, SVP completed the lease expansion on behalf of US Bank. The transaction comes on the heels of a 66,000-square-foot lease for the financial institution at the same property negotiated in March of 2011, and brings the total space leased to approximately 110,000 square feet.
“After US Bank’s acquisition of a trust operation from Bank of America in 2010, we were hired to relocate this operation and provide a cost/benefit analysis for consolidating offices in existing locations versus relocating to a separate facility,” Davidson said. “As a result of our findings, we secured an initial 66,000-square-foot lease at 190 S. LaSalle. This recent lease expansion at the property provides naming rights to the building as well as accommodates the relocation of additional US Bank offices from 550 W. Washington.”
Jon Copeland of CBRE led the lease team on behalf of ownership and works with Ron Lakin at the building. U.S. Bancorp is the parent company of U.S. Bank, the 5th largest commercial bank in the United States.