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Prime Group Realty Trust Welcomes Consulting Firm to 330 North Wabash

CHICAGO—Accounting and consulting firm BDO USA LLP has signed a 33,267-sq.-ft. lease on the 32nd floor of 330 North Wabash. The initial term of the lease is 11 years, commencing on December 1, 2012. The tenant is relocating its current location to occupy its new space.

BDO USA was represented in its search by Howard Ecker and Pamela Parasugo of Howard Ecker + Company. PGRT was represented by its Executive Vice President of Leasing Steven R. Baron.

The owner of 330 North Wabash Avenue is a joint venture between subsidiaries of Chicago-based Prime Group Realty Trust and Five Mile Capital Partners LLC, a Connecticut-based commercial real estate and alternative investment firm. PGRT is the property manager and leasing agent for the property.

330 North Wabash was designed by architect Mies van der Rohe and completed in 1971. It was designated with landmark status by the City of Chicago in 2008.

The building is currently undergoing a renovation that includes a fire and life safety system, new restrooms, elevator cab modernization, updating the building’s HVAC system and asbestos abatement. Also under construction is a 5,000-sq.-ft. fitness center, café and conference center.

In addition to the foregoing, a new Langham Chicago Hotel on floors 2-13 of 330 North Wabash is scheduled to open in the second quarter of 2013.

Prime Group Realty Trust also recently signed a lease amendment with law firm Patton & Ryan LLC that provides for the relocation of Patton & Ryan’s leased premises within the building from 20,186 to 23,252 rentable sq. ft. and extends the term of its lease for approximately seven years, through to January 31, 2024.

With the addition of the BDO USA lease and amendment to the Patton & Ryan lease, 330 North Wabash Avenue is approximately 87 percent occupied.

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