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Behringer Hires CBRE to Market Two Towers

CHICAGO-The company is going to act as leasing agent for 200 S. Wacker Drive and 222 S. Riverside Plaza, which total nearly two million sf.

By Cari Brokamp | Updated on September 03, 2008

CHICAGO-Behringer Harvard has hired CB Richard Ellis to act as leasing agent for 200 S. Wacker Dr. and 222 S. Riverside Plaza, which combined represent nearly two million. The owner decided to consolidate the two buildings under one leasing agent, and interviewed many firms. CBRE had previously been marketing 222 S. Riverside, but was chosen to renew its contract as leasing agent for that property as well as 200 S. Wacker.

Bob Gillespie, SVP and Melissa Rubenstein, VP with CBRE, will act as the leasing agents for the properties. “Behringer Harvard felt they would benefit by placing more business with fewer firms,” Gillespie says. He would not comment on the hiring cost.

The Wacker Drive building, a 755,000-sf office constructed in 1981, has an 80% occupancy rate, which is expected to drop about 14% in the next couple of years due to tenant rollover. Asking lease rates in the building range from $21 to $24 net, Gillespie says. The building offers a newly revamped lobby and central security system, and was previously marketed by the John Buck Co.

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