CHICAGO – The Alter Group has awarded Chicago-based MB Real Estate Services, Inc. the exclusive assignment to lease 20 West Kinzie, the 17-story, 385,000 SF Class A office building in downtown Chicago. Michael J. Alter, President of the Chicago-based national corporate real estate development firm, made the announcement.
Located at the corner of Dearborn and Kinzie Streets, 20 West Kinzie is one of River North’s marquee properties, the former Chicago headquarters of Google and home to Michelin-rated Keefer’s Restaurant. It features 25,000 SF floor plates, an underground executive garage, and such unusual tenant amenities as a bicycle pavilion and a landscaped rooftop deck.
“At a time when large blocks of downtown space are at a premium, 20 West Kinzie can accommodate a tenant of up to 150,000 SF,” said Matthew Ward, Senior Vice President, The Alter Group. “For blue-chip and entrepreneurial firms, 20 West Kinzie offers a first-class image with prominent signage on two of Chicago’s premier streets, and building naming opportunities.”
MB Real Estate’s Gary Denenberg, Executive Vice President/Managing Director; Mark Buth, Executive Vice President/Managing Director; and Kathleen Bertrand, Vice President, will lead the leasing efforts for the property.
“This is Chicago’s most coveted office location with a Class A vacancy of 5%,” said Denenberg. “River North is unique because it is one of the city’s cultural hotspots as well as a stronghold of luxury condominiums; with the housing supply set to double in the next few years, it is poised to remain a strong market.”
Founded in 1982, MB Real Estate is a full-service real estate organization that provides multifaceted expertise in Asset/Facilities Management; Leasing Services; Project/Construction Management; Tenant Representation; and Investment Services. Headquartered in Chicago, with a regional office in New York City, MB Real Estate provides these services to corporations, institutions, professional organizations, private investors, and non-profit agencies. For more information, please visit www.mbres.com.
20 West Kinzie’s progressive architecture and ultra-sophisticated technology earned the building the American Architecture Award from American Athenaeum: Museum of Architecture & Design; and the Distinguished Building National Design Awards from the Society of American Registered Architects.
The Alter Group was named NAIOP National Developer of the Year in 2010. Founded by William A. Alter in 1955, the firm has developed close to 100,000,000 SF of speculative projects for its own portfolio and build-to-suit facilities for corporate users. This year, the company has 2,500,000 SF of space, worth $400,000,000, permitted and primed for development in national markets. The firm was recently ranked #4 in the National Real Estate Investor survey of America’s top office developers.
For information about 20 West Kinzie, please contact Gary Denenberg at MB Real Estate: [email protected].