Laurence Elbaum, principal and co-founder at Bradford Allen, announced that Craig Nadborne, senior managing director, has completed six lease transactions at 520 W. Erie Street in Chicago.
520 W. Erie is a 45,000 square foot brick and timber loft building in the heart of River North. Bradford Allen was hired by ownership, Gamla Cedron, as the exclusive leasing agent for the property in late 2014 and has since secured 17,959 square feet of leases, bringing the building’s occupancy to 87%.
Nadborne successfully signed two leases shortly after being hired for the assignment: a new lease with SFP Commercial Real Estate for 2,948 square feet, and another new lease; this one with Stepbrand Enterprises for 1,897 square feet. With a need for additional space, Nadborne and Bradford Allen Associate, John Skalla, have since assisted both tenants (SFP Commercial Real Estate and Stepbrand Enterprises) with lease expansions within the building: Stepbrand Enterprises relocated to a larger space of 5,747 square feet, and SFP Commercial Real Estate moved into Stepbrand’s old space, expanding their lease by an additional 1,897 square feet. Most recently, Nadborne and Skalla, successfully arranged two additional new leases at the property: one with Doors for Builders for 3,948 square feet, and the other with J.S. Graphics, Inc. for 1,522 square feet.
