200 South Michigan Ave. totals 371,566 square feet and is currently more than 77% leased.
CHICAGO—Stanton Road Capital, which last month acquired the 200 South Michigan Ave. office tower here, has retained Colliers International Chicago for property management and engineering responsibilities for the more than 371,000-square-foot building.
Los Angeles-based Stanton Road Capital acquired the former Borg-Warner building from the Shidler Group for approximately $34 million, according to multiple published reports.
The circa 1955 building is currently 77.3% leased. Among the 371,566-square-foot office building’s most notable tenants include Howard & Howard, RTKL Associates and the South African Consulate, as well as The Cliff Dwellers, a private club for those professionally engaged in the arts.
The new ownership states it will invest significant capital into the building to maintain its heritage. Plans call for an upgraded lobby, a new spec suite program, and improved tenant lounge and fitness facility. Colliers will work with Stanton Road Capital to maximize the value of the property via additional strategic capital investments and tenant service offerings, with its construction management team overseeing select planned and future improvements.
“We are proud to be working alongside Stanton Road Capital at this notable asset,” says Colliers’ Chicago COO Phil Stafford. “Stanton Road Capital is a proactive owner with a clear vision. We look forward to executing our strategic brand of management at the building to help achieve their goals.”
Colliers will also provide construction management oversight on select capital projects at the office building.
The 200 South Michigan assignment marks the fourth office building Colliers manages for the Stanton Road Capital ownership Group. The other properties are: Arbor Lake Centre in in Deerfield, Woodland Corporate Tower in Downers Grove and 750 Commons in Aurora.
Colliers currently manages more than 3.4 million square feet of office property in the Chicago CBD and another 43 million square feet in suburban Chicago.
Stanton Road Capital has acquired more than $6 billion of commercial real estate, including over 2 million square feet of office properties in the Chicagoland area. SRC currently owns and operates a commercial property portfolio in excess of 5.5 million square feet and is actively investing on behalf of its institutional, family office, and private capital partners. SRC targets opportunistic, value-add, and core-plus commercial properties located in Chicago, Southern California, Texas and select major Midwest markets.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
