CHICAGO—As reported in last week, Lincoln International, a global investment bank, just closed a renegotiation of a long-term lease for its space at the 42-story Citigroup Center, 500 West Madison St. And officials from KBS Real Estate Investment Trust III, which acquired the building in December for about $425 million, say they have just signed another set of leases, with a total of 71,043-square-feet, bringing the occupancy level to 92%.

“Given the new ownership, enhanced marketing efforts, and the planned renovations, we have a great amount of energy and momentum with our leasing efforts,” Brett Merz, a senior vice president with KBS, tells

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