Buth, along with MB Real Estate's Kathleen Bertrand, representedbuilding ownership in the lease transaction. Lisa Konieczka, CalWessman and Bill Sheehy, both with CB Richard Ellis, representedBlue Cross Blue Shield Association, the nonprofit nationalassociation for the 39 independent, locally operated Blue CrossBlue Shield Plans.

Blue Cross Blue Shield Association (BCBSA) is the largest tenantin the building, occupying all of the second through the sixthfloors, in addition to parts of the eighth and ninth floors. BCBSAhas been a tenant in the building since 1995. BCBSA is the"association which supports the plan groups," Buth says. One of theplan groups is Health Care Services Corp., operating as Blue CrossBlue Shield of Illinois, which expandedrecently to 263,000 sf at 111 E. Wacker and also expandedat 300 E. Randolph St., as reported by GlobeSt.com.

The two-building office complex consists of a 44-story buildingat 205 N. Michigan Ave. and a 25-story tower at 225 N. Michigan Aveand has a total of more than 1.9 million sf of rentable space.Michigan Plaza is currently 78% leased, Buth tells GlobeSt.com.Major tenants include Omnicom, MCI and Fox Television. Asking leaserates range from $28 per sf to $32 per sf gross, he says. MB RealEstate has been the management company for Michigan Plaza since2005. MB Real Estate has completed leases for more than 265,800 sfat Michigan Plaza so far for the year. The complex is owned by LoebPartners Realty LLC, based in New York City, which acquired theproperty in December 2004 for approximately $273 million, sourcessay.