Scott Kulberg, Joe Learner and Robert Sevim, all with Studley, represented CCC in the lease transaction. Michigan Plaza building ownership was represented in the transaction by Mark Buth and Kathleen Bertrand, both with MB Real Estate. Asking lease rates range from $28 per sf to $32 per sf gross, Buth says.
The tenant has 15 rooms and will add five meeting and conference rooms in the new space. "They had too much demand. Their business is doing extremely well," says Kulberg, corporate managing director at Studley. The company has been a tenant in the building since 1997.
The tenant had been leasing the entire 10th floor of the building and will be expanding into approximately half of the 9th floor. The company considered relocating but chose to expand at Michigan Plaza because they could expand contiguously at a "good location that their clients are familiar with," Kulberg says. The tenant also received tenant improvement packages to build out the space on the ninth floor as well as to update the company's existing space, he says.
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