BentleyForbes Reports More Than 67,000 Square Feet of Leasing Activity at Prudential Plaza

CHICAGO--(BUSINESS WIRE)--BentleyForbes, owner and operator of the iconic Prudential Plaza office towers overlooking Millennium Park in Chicago’s East Loop district, today reported more than 67,000 square feet of new, expansion and renewal leasing activity at the property.

“Prudential Plaza is one of Chicago’s signature office addresses, and we are committed to continued improvement of the property’s Class A amenities to attract and retain our valued tenants,” said Fred Wehba, founder and chairman of BentleyForbes. “We are pleased that this strategy and the attentive management services from our dedicated staff continue to resonate with Chicago’s top corporate citizens.”

Since taking ownership of Prudential Plaza in 2006, BentleyForbes has invested considerable resources to elevate the building’s Class A finishes, including: the addition of new restaurants, featuring the popular Tavern at the Park and several casual and quick serve dining concepts; the build out of move-in ready “spec” office suites in various sizes and configurations; and the continued improvement of the building’s common areas, with upgrades to each tower’s multi-tenant corridors, restrooms, elevator cabs, the lobby concourse and exterior finishes.

BentleyForbes has signed 15 new and renewal lease agreements this year with tenants across multiple industry sectors. The third quarter offered new leases from Hinkhouse Williams Walsh LLP and St. Jude Medical, and sizable renewed leases from Chicago Federation of Labor and Illinois Mine Subsidence Insurance Fund.

In each reported lease, BentleyForbes was represented by Andrea Saewitz and Lauren Alexander with J.F. McKinney & Associates, who oversee marketing and leasing for Prudential Plaza. Individual transactions and cooperating tenant brokers include:

• Hinkhouse Williams Walsh LLP: 10,705 square feet. David Findling and Chris Pontarelli, Cushman and Wakefield of Illinois, Inc. New.

• Vista Equity Partners: 7,047 square feet. Irv Gilner and John Marquardt, Transwestern Commercial Services. New.
• Polansky, Cichon & Batey Chtd.: 4,778 square feet. Richard Wolk, Coldwell Banker Commercial NRT Inc. New.
• Borst & Collins LLC: 3,251 square feet. Jay Stewart, Grubb & Ellis. New.
• SmartChem LLC: 3,220 square feet. Lyle Levin, Studley. New.
• Adam Harris, Inc.: 2,758 square feet. Kyle Harding of UGL Equis Corporation. New.
• BBC Worldwide Americas, Inc.: 2,343 square feet. Luanne Reedy of Jones Lang LaSalle. New.
• Concorde Printing: 2,410 square feet. Shannon Hormanski, Cushman and Wakefield. New.
• CBS: 2,095 square feet. Kyle Kamin, CB Richard Ellis. New/Expansion.
• Riso: 1,901 square feet. Gordon Macadam Real Estate Services, Inc. New.
• St Jude Medical: 1,771 square feet. Trish McNulty and Mark Kolar, Jones Lang LaSalle (formerly Staubach Midwest). New.
• Agile Solutions: 1,731 square feet. Vickie Lui, Magellan Commercial Realty. New.
• Associated Bank: 11,655 square feet. Tiffany Winne, Studley. Renewal.
• Chicago Federation of Labor: 7,682 square feet. June Simonian, Bradford Allen Realty Services. Renewal.
• Illinois Mine Subsidence Insurance Fund: 3,996 square feet. Corby Marx and Jonathan Gordon, Transwestern Commercial Services. Renewal.

“These leases reflect the goals of our property management strategy,” said C. Frederick Wehba II, co-founder and vice chairman of BentleyForbes and head of asset management for the firm’s portfolio of properties. “By improving onsite amenities and upgrading the property’s overall finishes and infrastructure, we plan to attract and retain quality tenant customers. From on-site dining, convenience services and a signature position overlooking Millennium Park, to move-in ready office space, renovated common areas and superior management staff, Prudential Plaza offers a compelling location based on its operational efficiencies and iconic prestige.”

Prudential Plaza is a landmark address that occupies a full city block overlooking North Michigan Ave. at its intersection with E. Randolph St. in Chicago's culturally rich East Loop commercial district. The dynamic campus features approximately 2.2 million square feet of Class A office space in two distinctive towers, reaching 41- and 64-stories, respectively.

Notably, the property features sweeping, unobstructed views from almost every floor of Lake Michigan, Michigan Avenue, the city skyline, the Chicago River and the internationally lauded Millennium Park. Prudential Plaza also offers a shared, landscaped plaza entry and more than 90,000 square feet of signature retail space easily accessible to building tenants and pedestrian traffic from Millennium Park.

About BentleyForbes:

Founded in 1993 by C. Frederick Wehba and members of his family, including C. Frederick Wehba II, privately-held BentleyForbes is a national real estate investment firm focused on the acquisition, ownership and management of trophy Class A office buildings, luxury resort and hotel properties and select high-quality industrial and retail facilities. Currently, the Company owns and operates a portfolio of assets valued in excess of $3 billion that comprises approximately 7.9 million square feet in total consideration located in diverse Markets across the United States. Typical investments for the Company range from $30 million to $500 million and beyond, emphasizing multi-tenanted and single-tenanted Class A office properties in top CBD or regional submarket locations and best-of-class luxury resort and hotel properties in major MSA or resort destination Markets. Furthermore, the Company is recognized for its expertise in the acquisition and management of single tenant and/or sale-leaseback property investments, and continues to invest in assets of this type on a select basis. From its Los Angeles headquarters, BentleyForbes employs a roster of real estate experts well versed in commercial real estate investment, finance, law, accounting and asset management. The Company also has regional offices in Atlanta, Chicago, Dallas, Ft. Lauderdale and Washington D.C. For more information, please logon to www.bentleyforbes.com.