MB Real Estate’s leasing group has increased occupancy at the Inland Steel Building by 40 percent, bringing the current leased percentage to more than 85 percent. MB Real Estate has managed and leased the building, located at 30 W. Monroe, on behalf of Capital Properties Management Inc. since February 2012.
When MB Real Estate obtained the leasing assignment last year, the 234,980-square-foot, 19-story, Class A office property was 45 percent leased while the look, feel and functionality of the Inland Steel Building were being elevated.
Recognizing the potential of the property for its architectural significance, efficient floor plans and recently launched significant renovation and modernization, MB Real Estate implemented a newly branded and aggressive leasing campaign to reposition the building.
“We’ve closed 13 new leases at the building since last year with roughly 100,000 square feet leased in the first 12 months,” said Gary Denenberg, executive vice president and managing director of leasing for MB Real Estate.
Recent leases at the property include the 9,400-square-foot lease to Nelson Architects; a 9,800-square-foot lease to Kerns Frost & Pearlman; a 12,900-square-foot lease to Asset Allocation Management; and a 12,900-square-foot lease for the Jacobson Group. Denenberg and Vice President Sara Spicklemire represented ownership in the lease transactions.
Additionally, as property manager, MB Real Estate has helped to implement numerous changes at the building with a focus on creating a forward thinking, Class A work environment for building tenants. The Inland Steel building now offers a high-end fitness center on the second floor, in addition to a unique conference center through a partnership with Workspring, providing an enhanced workspace built for co-working, collaborative meetings, long-term projects and events.
The property’s new retail tenant, Specialty’s Café, which opened on the first floor in April of this year, now also serves as an amenity to the tenants as does the addition of ZIP Car service in the building garage.
