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Bradford Allen secures 10,000-SF, ten-year renewal at 200 S. Michigan Ave

Chicago, IL — Jeffrey A. Bernstein and Laurence B. Elbaum, Principals and Co-Founders of Bradford Allen, are pleased to announce that Ben Azulay, Principal, completed a 10,000-square-foot, ten-year lease renewal for Rubinos and Mesia Engineers, Inc. (RME) at 200 S. Michigan Avenue. The renewal allows the engineering firm to remain on the 15th floor of the Michigan Avenue office tower, where they have been a tenant for over 30 years. Craig Coupe of JLL represented the landlord in the transaction.

“Considering the ongoing impact of the pandemic on the marketplace, we were thrilled to be well-positioned to assist RME in accomplishing their goals. By successfully leveraging the market to their benefit, we were able to secure significant concessions as a component of their renewal for the next ten years,” explained Azulay.

Established in 1982, Rubinos & Mesia Engineers, Inc. is a structural/civil engineering and construction management firm who have established a reputation among leading consultants as diligent, well-diversified program managers who provide a uniquely intimate design evaluation experience. The recipient of over 20 industry awards, RME has successfully completed over 2,000 projects to date.

“Jeff and I are really proud of Ben. We are living in extremely challenging times, and he and his team have continued to produce at a high level throughout the pandemic,” said Elbaum.


About Bradford Allen
Bradford Allen is a national commercial real estate firm based in the heart of downtown Chicago. The company offers a full array of brokerage services and expertise to entrepreneurial, corporate, and not-for-profit clients. Services include strategy, marketing, and transaction execution for occupiers, investors, and owners of commercial real estate. Bradford Allen is the brand name of Bradford Allen Realty Services.

 

CRE Office Pulse, 002

By Rhea M. Stephen, Director of Research

To mark the one-year anniversary since the Covid-19 lockdown, Bradford Allen’s Director of Research, Rhea Stephen, sat down with four of our senior brokers to talk about the lingering effects on both the suburban and downtown office markets from the landlord and tenant representative perspectives.

To read the full report, click here.

 

Bradford Allen completes 23,000-SF lease renewal in Lombard

Chicago, IL ­­– Jeffrey A. Bernstein and Laurence B. Elbaum, Principals and Co-Founders, are pleased to announce that Senior Managing Director Joel Berger has completed a 22,916-square-foot lease renewal on behalf of Cinch Connectivity Solutions, Inc. The electrics manufacturer signed a six-year lease extension to remain in their offices at 1700 S. Finley Road in Lombard, IL, where they have been a tenant since 2001. Pete Adamo and Bill Elwood of CBRE represented the landlord, Group RMC.

“Like a number of companies, Cinch was left with unused office space as a direct result of the Covid-19 pandemic and our new normal of a substantial work-from-home culture. But as the vaccines continue to roll out and our economy begins to bounce back, we all agreed the space wouldn’t be underutilized for much longer. With the market still in recovery, it was the perfect time to lock down an extended renewal at favorable terms for the tenant,” explained Berger.

A member of the Bel Group, Cinch Connectivity Solutions has been providing custom engineered solutions for over 100 years. The vertically integrated supplier focuses on high-performance electric connectors and cable assemblies to support military, wireless communications, aerospace, data networking, telecommunications, and harsh-environment use applications.

“Joel is a veteran of the industry and has earned a reputation as a true professional in every sense of the word. Jeff and I are very proud of Joel. We are living in very challenging times, and he continues to provide service at the highest level regardless of the circumstances,” said Elbaum.


About Bradford Allen

Bradford Allen is a national commercial real estate firm based in the heart of downtown Chicago. The company offers a full array of brokerage services and expertise to entrepreneurial, corporate, and not-for-profit clients. Services include strategy, marketing, and transaction execution for occupiers, investors, and owners of commercial real estate. Bradford Allen is the brand name of Bradford Allen Realty Services. For more information, visit bradfordallen.com.

 

Ten with Ben // “008: What If’s”

“Is today the day we return to pre-pandemic days?”

If you’re like Ben, this has been a question you’ve asked yourself more than once over the past year. The what if’s keep us guessing as to what could have happened and what may happen next.

This week, Ten with Ben is back to bring some insight into how office leasing has changed due to the pandemic. Ben answers questions like: “Would deal terms be the same if the pandemic never happened?”

Negotiating deals in the current environment is giving tenants incentives like how they can use their tenant allowance and rent abatement. The market will continue this way for a while, potentially through 2023, and one thing is clear — it is essential to take advantage of the current situation and capture the savings of this moment in time.