SmithBucklin Expands to More Than 100,000 SF

CHICAGO-SmithBucklin has expanded its headquarters by one entire floor to 107,907 sf at 401 North Michigan Avenue. The association management company is now leasing five floors and had previously leased about 81,000 sf, Studley Inc. managing director Scott Kulberg tells GlobeSt.com.

SmithBucklin has a long-term lease at the class A building, which is owned by Zeller Real Estate, and has been a tenant since 1990, Kulberg says. Other major tenants in the building include the Illinois Housing Development Authority, MTV Networks and Spencer Stuart.

SmithBucklin was able “to secure additional space in a building with very limited expansion opportunities,” SmithBucklin’s chief financial officer Al Koob says in a released statement. The business had been searching in the area for additional space to expand; although, Kulberg would not divulge the other possible locations. “We were definitely exploring alternatives because we were not certain we were going to be able to accommodate our growth in the building. We went out and we scouted other buildings in and around the North Michigan Avenue submarket,” he tells GlobeSt.com.