Riverside Plaza Buildings Retain Tenants

"The Civic Opera Building is a Chicago icon, and after evaluating other Downtown space alternatives, we concluded that this location enables us to best serve our members throughout Downtown and the West Loop," explains University Club controller Don Cameron of the decision of the group's affiliate to remain at 2 N. Riverside Plaza. Studley, Inc. managing director Josh Gorin represented the Tower Club.

DMI Brokerage signed a 12,700-sf renewal that also is an expansion of its current headquarters at 222 S. Riverside Plaza, where occupancy was 92% when Beacon Capital acquired it in July. "With little time left on their lease, DMI required almost double the space," says MB Real Estate leasing representative Chad Bermingham. "After reviewing their alternatives, they decided to remain in the building. We were able to negotiate a generous improvement allowance to complete the build-out for their expansion as well as a reduction in lease rate and substantial rent abatement."

In addition to the Tower Club, National Automatic Merchandising Association renewed its lease on 14,419 sf on the 35th floor of 2 N. Riverside Plaza. Tiffany Winne of Studley, Inc. represented NAMA, a tenant in the Civic Opera Building for more than 20 years.

Bermingham represented DMI Brokerage, an excess and surplus lines commercial property and casualty insurance broker, along with MB Real Estate assistant vice president Michael Cello. Bill Rolander of the John Buck Co. represented Beacon Capital.