MB Real Estate’s Corporate Services & Tenant Advisory group represented HDI-Gerling America Insurance Co. in an 18,000 square foot lease at 161 North Clark Street in Chicago.
The commercial property and casualty insurance company, a wholly owned unit of German insurance company HDI-Gerling, will be expanding from its current 12,000 square foot offices at 150 North Wacker Drive in Chicago to the 48th floor at 161 North Clark this summer.
HDI-Gerling America took advantage of favorable market conditions to upgrade its office space and consolidate its operations onto a single floor.
“This move not only allows HDI-Gerling [America] to consolidate its growing business onto a single floor at 161 North Clark, but also gives them the flexibility and ability to expand in the future,” said MB Real Estate associate David Kimball who, along with senior vice president Jay Beadle, represented HDI-Gerling America.
Jonathan Cordell of Tishman Speyer represented the building owner.