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Monthly Archives: November 2011
INVESTMENT PROPERTY DATABANK SIGNS A LEASE FOR NEW SPACE IN CHICAGO
Chicago, IL – November 11, 2011 – United Kingdom-based real estate performance analysis firm Investment Property Databank US (IPD) recently signed a new lease for office space at The Civic Opera Building in Chicago.
IPD opened its first Chicago office in 2007 in River North, but quickly outgrew that space. Additionally, IPD was looking to upgrade its office and building aesthetic to create a more professional environment in close proximity to the Metra trains, L lines and its institutional customer base. “Tishman Speyer, the landlord at 20 N Wacker, was very accommodating, offering a compelling economic package to attract IPD to the already built out space on the 17th floor. This coupled with the amenities of the Tower Club, the presence, history and professional aesthetic of the Civic and the proximity to transportation, it was a simple choice,” said Rhea Campbell of Bella Terra Partners, who negotiated this transaction on behalf of IPD.
IPD is at the forefront of global real estate performance analysis, providing accurate and comprehensive information to measure real estate market returns and to take advantage of emerging trends. IPD has a multi-national staff of 300 and a presence in 20 countries through subsidiaries and existing trade associations.
GLOBAL MANAGEMENT SERVICES SIGNS A NEW LONG TERM LEASE AT ONE NORTH LASALLE STREET
Chicago, IL – November 11, 2011 – Chicago-based event managing service Global Management Services, Inc (GMS) recently signed a long-term lease for new office space at One North LaSalle Street in Chicago.
GMS had been a tenant at 360 North Michigan Avenue for over eleven years and had a good relationship with its landlord. However, their space was in need of updating and required modifications to continue to meet their growing operational needs. With the assistance of Bella Terra Partners, a commercial tenant representation firm, GMS was able to move into a sister building of 360 N Michigan Avenue, One North LaSalle Street, owned by the same landlord. “The space offered at One North LaSalle Street had perfect existing conditions, was double the size and included furniture that would become vacant at exactly the time GMS required this space.” said Rhea Campbell, Founding Partner of Bella Terra Partners who represented GMS. “Not only that, the negotiated transaction fit well with GMS’s business goals and was a shorter negotiation process because of the long term relationship of the tenant and the landlord. The landlord gets to keep a solid business in its portfolio of Chicago owned assets and the tenant gets almost brand new space for a fraction of the cost with no out of pocket exposure. It’s a win for both parties.” stated Campbell.
GMS provides event management services throughout the United States, Canada and the rest of the world. Local services they provide include: flight bookings, venue selections, transportation, multilingual guides and interpreters, fine dining, hotel arrangements and unique entertainment. And, they have international representatives in Benelux, Germany, Italy and the UK.
