Search
 

Leases Help Chip Away at 230 W. Monroe Vacancy

CHICAGO-Engineering firm Parsons Brinckerhoff Quade & Douglas Inc. renews a 15,250-sf lease while Continental Packaging Solutions, Inc. signs a 11,299-sf deal, helping lift occupancy to 57%.

By Mark Ruda | Updated on February 23, 2005

CHICAGO-Engineering firm Parsons Brinckerhoff Quade & Douglas Inc. has renewed its lease at 230 W. Monroe St., consolidating 15,250 sf on the ninth floor. The firm previously had space on the third and 15th floors.

The lease was one of four at the West Loop building totaling 34,604 sf. Nonetheless, the 29-story building remains 43% vacant, with 268,867 sf available. Continental Packaging Solutions, Inc. signed a 11,299-sf lease, moving from a building it owned at 841 W. Cermak. Moving from 105 W. Adams St., Lucas Group signed a 4,000-sf lease while another executive staffing firm, Forefront Staffing Inc., signed a 2,450-sf deal.

Although terms were not disclosed, MB Real Estate is marketing space in the building at net lease rates beginning at $16.50 per sf. MB Real Estate’s Gary Denenberg and Thomas McCarthy handled negotiations for the limited liability corporation that acquired the building for $64.5 million in 2002.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.