Los Angeles-based Stanton Road Capital (SRC), new owner of 200 S. Michigan Avenue, has awarded Colliers International Chicago the property management and engineering assignments for the Class A office property. Colliers will also provide construction management oversight on select capital projects.
“We are pleased to continue our relationship with Colliers at our newest asset in Chicago. They are an excellent partner who we trust to assist in implementing our investment plan,” said Tim Ronan, Jr., founder and managing partner of SRC.
Built in 1955, the former Borg-Warner building sits on the southwest corner of Michigan Avenue at Adams Street, overlooking Millennium Park and the Art Institute of Chicago. At 22 stories, the 371,566-square-foot, brick and glass, boutique office building has many notable tenants including Howard & Howard, RTKL Associates and the South African Consulate, as well as The Cliff Dwellers, a private club for those professionally engaged in the arts.
SRC acquired 200 South Michigan in July 2019 and will invest significant capital into the building to maintain its mid-century heritage. Plans call for an upgraded lobby, a new spec suite program and improved tenant lounge and fitness facility. Colliers will work with SRC to maximize the value of the property via additional strategic capital investments and tenant service offerings, with its construction management team overseeing select planned and future improvements.
“We are proud to be working alongside Stanton Road Capital at this notable asset,” said Colliers’ Chicago COO, Phil Stafford. “Stanton Road Capital is a proactive owner with a clear vision. We look forward to executing our strategic brand of management at the building to help achieve their goals.”
The 200 S. Michigan assignment continues Colliers’ strong relationship with Stanton Road Capital in Chicago and is its fourth office building under management with the ownership group. Others include Arbor Lake Centrein Deerfield, Woodland Corporate Tower in Downers Grove and 750 Commons in Aurora. 200 S. Michigan is currently 77.3 percent leased.