MB Real Estate EVP/Managing Director Mark Buth and Vice President Kathleen Bertrand have completed a 19,000-square-foot lease to News America Marketing In-Store Services LLC at Chicago’s Michigan Plaza on behalf of ownership, Michigan Plaza LLC.
A division of News Corp, News America Marketing is a marketing services company. The firm is relocating to 205 N. Michigan from 303 E. Wacker and will take occupancy of the 44th floor of the 1 million-square-foot property. Kyle Kamin and Connor McCarthy of CBRE represented News America Marketing in the lease negotiations.
In another recent transaction, Buth and Bertrand also leased approximately 5,000 square feet on the 41st floor of 205 N. Michigan to Hanse Orga International Corporation. The firm specializes in software and consulting for financial supply chain management. Mark Floersch and Brad Serot of CBRE represented the tenant in the transaction.
MB Real Estate leases and manages Michigan Plaza, located at 205|225 N. Michigan Ave. on behalf of ownership and has represented the property since 2005. Buth and Bertrand have closed 580,000 square feet in lease transactions at the property in the past 24 months with 215,000 closing in 2013. Michigan Plaza delivered a new fitness facility and conference center in 2013, and is outperforming the East Loop submarket with a combined occupancy of 86.5 percent.