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ASSET MANAGEMENT & LEASING SERVICES

CHICAGO - NEW YORK www.mbres.com


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OMPANY OVERVIEW

ABOUT US Founded in 1982, MB Real Estate is a privately held, full-service real estate organization that provides multifaceted expertise in Asset & Facilities Management, Leasing Services, Project & Construction Management, Tenant Representation, and Investment Services. Headquartered in Chicago, with a regional office in New York City, MB Real Estate provides these services to corporations, institutions, professional organizations, private investors, and non-profit agencies.

LOCATION Chicago 181 W. Madison Suite 4700 Chicago, IL 60602 312.726.1700

New York 335 Madison Avenue 14th Floor New York, NY 10017 212.350.2300


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APITAL OVERVIEW


3.5+ million SF in Chicago

1.5+ million SF in Chicago 200 residential units in Chicago

Asset Management Project & Construction Services

Asset Management Leasing & Marketing Services Project & Construction Services

3.6 million SF in Chicago

1+ million SF in Midwest, East Coast, & Brazil

Asset Management Leasing & Marketing Services Project & Construction Services Investment Services

Asset Management Tenant & Transaction Advisory Project & Construction Services

200,000+ SF of medical office in Chicago

11+ million SF throughout US Asset Management Tenant & Transaction Advisory Project & Construction Services

Asset Management Leasing & Marketing Services Project & Construction Services

THE CHETRIT GROUP

1.6 million SF in Chicago

Asset Management Leasing & Marketing Services Project & Construction Services

PARTNERS REALTY, LLC

Tenant & Transaction Advisory Portfolio Management

Asset Management Leasing & Marketing Services Project & Construction Services

470,000 SF in Chicago

LOEB

1+ million SF throughout US

TANSLEY ACQUISITIONS

1+ million SF in Chicago Asset Management Portfolio Management

1.9 million SF in Chicago

800,000 SF in NY Metro Area

Asset Management Leasing & Marketing Services Project & Construction Services

Tenant & Transaction Advisory


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XECUTIVE PROFILES KEVIN M. PURCELL, EVP & Chief Operating Officer

For nearly 20 years, Kevin has been active in all facets of commercial real estate, including asset management, development, construction management and leasing, as well as accounting and receivership services. He currently manages an 18 million square foot real estate portfolio that includes such prestigious clients as the City of Chicago, The Chetrit Group, Credit Suisse First Boston, GE Asset Man- agement and Loeb Partners Realty. Kevin is also currently overseeing the development of a 450-unit residential project in Chicago’s Bronzeville neighborhood. The ARCHES of Oakwood Shores is part of a 94-acre, master-planned, mixed-income community of 3,000 for-sale and rental homes. Adding additional value to the project, Kevin oversaw leasing efforts to increase the average occupancy rate from 20 to 90 percent across the three buildings. Among the most notable transactions were Bank One (300,000 rentable square feet), Sears Roebuck & Co. (250,000 rentable square foot department store), Crain Communications (75,000 rentable square feet) and PricewaterhouseCoopers (50,000 rentable square feet). Kevin has also served as General Manager at several Chicago buildings, such as 311 South Wacker, 200 West Madison (Madison Plaza) and 100 North Riverside (Boeing Building). As a leasing agent, he has completed more than 2.5 million rentable square feet of office, industrial and retail lease transactions, as well as $65 million in tenant construction on behalf of institutional owners.

GARY A. DENENBERG, EVP & Managing Director, Leasing Services Joining MB Real Estate in 1992, Gary oversees leasing activity for all properties in the company’s leasing portfolio, including managing on-site representatives, setting leasing strategies, and advising clients on investments. Additionally, he is the account executive and senior leasing representative for five properties in Chicago’s CBD, as well as manage the company’s collection of market data and comparable deal economics. During his more than 20 years in the Chicago real estate market, Gary completed more than 600 lease transactions totaling approximately 9 million square feet and valued at more than $2.2 billion. His professional, organized and responsive approach to leasing has resulted in successfully completing transactions with the brokerage community and satisfying the objectives of building owners. Prior to joining MB Real Estate, Gary specialized in tenant representation with Rubloff Properties and worked on various industrial opportunities with Matanky Realty Group, Inc.


MARK A. BUTH, EVP & Managing Director, Leasing Services As Executive Vice President and member of the MB Real Estate’s Executive Committee, Mark oversees leasing activity in the company’s 10+ million square foot leasing portfolio. He is also responsible for identifying new business opportunities for the company and advising its clients on investments. A well-known member of the Chicago real estate community for more than 25 years, Mark has completed more than 700 lease transactions for more than 8 million square feet. Over the past five years as the account executive and senior leasing representative at Michigan Plaza, a 2 million square foot office complex in Chicago, Mark completed more than 134 transactions for more than 1.2 million square feet. Key transactions during that span include a 214,000 square foot renewal for Blue Cross Blue Shield (Chicago’s largest lease transaction in 2007), as well as a 111,000 square foot renewal for Omnicom; 70,000 square foot new lease for Argosy University; 60,000 square foot new lease for OWPP/Cannon; and 77,000 square foot renewal for Verizon. Mark has consistently created optimal value for distinguished real estate owners and investors such as Ameritech Pension Fund, The Chetrit Group, Credit Suisse First Boston, GE Asset Management, Loeb Partners Realty, Metropolitan Life Insurance, Prudential Financial Inc. and Triple Net Properties. Prior to joining MB Real Estate in 2002, Mark was a Senior Vice President at The Walken Company, where he oversaw leasing activities at One South Wacker in Chicago and increased occupancy from 45 to 95 percent. He also served as Senior Vice President at Walken-Tinsley Interests, where he established its build-to-suit division, which developed more than 75 assisted-living facilities valued at more than $260 million for a publicly traded client.

DANIEL J. NIKITAS, EVP, Corporate Services & Tenant Advisory A well-known member of the Chicago real estate community for more than 20 years, Daniel joined MB Real Estate in 2007 to lead the firm’s business development efforts, including sourcing thirdparty management and leasing opportunities, providing tenant representation services and handling potential equity investments. Daniel has secured more than 500 lease transactions totaling more than 4.5 million square feet for tenants such as AIG, General Electric and Microsoft Corporation, and buildings such as Willis Tower (formerly Sears Tower), John Hancock Center and Citigroup Center. Prior to joining MB Real Estate, Daniel was Executive Vice President of Leasing for Prime Group Realty Trust, where he directed the leasing activity of approximately 7 million square feet of office space in downtown and suburban Chicago. He was also Executive Vice President of Leasing with Shorenstein Realty Services, where he oversaw the leasing activity of approximately 4 million square feet of office space in downtown Chicago and other metropolitan areas in the Midwest. Danny resides in Glenview, Illinois with his wife Margaret and their three sons.


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CLOSER LOOK

Protecting and enhancing the value of assets

Manage more than 14 million square feet of property nationwide | Diverse client base includes institutional clients, private investors and governmental entities | We approach each asset from an owner’s perspective, viewing each project not only as a physical structure, but as an asset whose financial value must be optimized | We apply an entrepreneurial management style to each asset, continually developing tailored initiatives to enhance value


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REAS OF CONCENTRATION

Property Management

13,487,886 rentable square feet

Government & Public Facilities Management

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5,517,809 total square feet

ATIONAL CAPABILITIES

A reas of service highlighted in blue


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ASE STUDIES

CITIGROUP CENTER Completed sophisticated security system upgrades, handling more than 110,000 tenants, visitors and messengers per day |

Implemented a $10 million renovation project aimed at improved wayfinding and minimizing

tenant and visitor inconvenience associated with heightened security measures | Implemented no-cost operations modification of HVAC system during non-building holidays and weekends for an annual savings of $76,000 | Maintained operating expenses at a 2% average increase over the past 10 years | LEED-certified; sustainable measures provide annual savings $0.34/SF

MICHIGAN PLAZA Planned/implemented a $10 million lobby/plaza renovation and fire/life safety systems enhancement including a fire alarm system upgrade and surveillance system; ADA voice/strobe system; security/visitor registration desk; and implementation of employee photo identification cards | Procured electricity prior to ComEd utility auction (projected electricity rate increase of 30% to 50%) for significant annual savings | Negotiated new cleaning contract for an annual savings of $800,000, and improved quality and service | Earned ENERGY STAR designation; achieved LEED Gold certification


200 WEST JACKSON Performed due diligence/underwriting and executed debt service/financing services for ownership | Repositioned from owner-occupied to multi-tenant | Completed a major elevator modernization and lobby renovation, which included the creation of 4,000 square feet of rentable retail space; creating an additional $2.7 million in value | Implemented an aggressive marketing campaign that has successfully increased the building’s occupancy rates | Earned ENERGY STAR designation

RICHARD J. DALEY CENTER Entered into an Energy Performance Contract, implementing eight conservation measures guaranteed to save $9.1 million over 15 years and create more than 150 jobs | Procured new service contracts with vendors saving more than $200,000 over the next 3 years | Implemented no-cost modification of shutting off boilers (summer evenings; weekends) for reduced consumption and costs | Implemented no-cost modification to use perimeter induction units as radiators only and with fans off during unoccupied periods for reduced | Achieved LEED Silver certification for Existing Buildings


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EASING AND MARKETING SERVICES

14+ million square foot portfolio | Each property has dedicated leasing agents and senior level executives for elevated level of focus and expertise | Work to maximize the long-term value of each asset through aggressive tenant prospecting and marketing campaigns to attract new tenants and retain existing tenants

Year: 2012 Transactions: 185 Square Footage: 1,426,747 Est. Value: $272,053,660

Deals Deals Deals Deals

under 2,000 SF: 72 between 2,000-10,000 SF: 77 between 10,000-15,000 SF: 12 over 15,000 SF: 24

Year: 2011 Transactions: 143 Square Footage: 1,459,907 Est. Value: $197,931,586

Deals Deals Deals Deals

under 2,000 SF: 45 between 2,000-10,000 SF: 76 between 10,000-15,000 SF: 8 over 15,000 SF: 14

Year: 2010 Transactions: 118 Square Footage: 644,927 Est. Value: $109,536,003

Deals Deals Deals Deals

under 2,000 SF: 35 between 2,000-10,000 SF: 65 between 10,000-15,000 SF: 9 over 15,000 SF: 9

Year: 2009 Transactions: 77

Deals under 2,000 SF: 13 Deals between 2,000-10,000 SF: 47

Square Footage: 694,587 Est. Value: $156,794,099

Deals between 10,000-15,000 SF: 2 Deals over 15,000 SF: 15

Year: 2008 Transactions: 72 Square Footage: 1,050,263 Est. Value: $392,742,112

Deals Deals Deals Deals

Year: 2007 Transactions: 115

Deals under 2,000 SF: 24 Deals between 2,000-10,000 SF: 68

Square Footage: 1,301,521 Est. Value: $317,742,575

Deals between 10,000-15,000 SF: 10 Deals over 15,000 SF: 13

under 2,000 SF: 15 between 2,000-10,000 SF: 41 between 10,000-15,000 SF: 5 over 15,000 SF: 11


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EASING ACCOMPLISHMENTS

MICHIGAN PLAZA Leased 540,000 RSF last 24 months; notable transactions include: Cramer Krasselt (76,000 RSF), Omnicom Group (81,000 RSF expansion), Cannon Design (60,000 RSF), Gannett Co. (50,000 RSF), American Cancer Society (35,000 RSF) and Chicago Community Trust (26,000 sf) | 2012 Completed 29 leases totaling 331,000 RSF including 174,000 sf of renewals and 157,000 sf of new and expansion deals resulting in positive absorption of over 90,000 sf. | Increased occupancy from 80% to 90% compared to peer group (East Loop Class B) 75.6% occupancy. Peer group absorption only 23,000 sf (net of Michigan Plaza 90,000 sf absorption) | Constructed and successfully leased 150,000 RSF of spec suites ranging from 1,500 to 5,000 RSF. Average lease up within three (3) months of delivery and at cost savings to owner of approximately 10% over typical one-off transaction. Build out is general office space with long term utility. This program has been so successful, Michigan Plaza is delivering 35,000 more SF of spec suites in 2013 | 2007 completed $10 million building renovation including the public plaza, fire/life/safety & security systems, elevator modernization, frameless glass entrance with signature red wave canopy | Awarded LEED Gold certification in March 2012


CITIGROUP CENTER From 2010 – 2012 leased over 567,000 RSF; notable transaction include: AIG (75,000 RSF); Acquity Group (65,000 RSF); NAVTEQ (37,414 RSF); Performance Trust (31,000 RSF) | 2012 completed 17 leases totaling 279,079 RSF including 241,532 of new and expansion transactions resulting in positive absorption of approximately 90,000 sf | Increased occupancy from 80% to 91% compared to peer group (West Loop Class A) 85.1% occupancy | Recently completed a $10.2 million lobby renovation addressing the 1st, 2nd and 3rd floor lobbies, multi-tenant corridors and food court. The renovation included a new security command center with state-of-the-art cameras and controls, new security turnstiles for controlled access, new visitor center, reception and concierge desks | Awarded LEED Gold Certification in April 2010

181 WEST MADISON During the previous 60 months leased in excess of 900,000 SF including more than 250,000 SF during last 24 months with the largest lease being an 89,000 SF renewal for Quantitative Risk Management | More than 50% of building leased beyond 2020 | Nearly 70% of building leased to high-credit tenants (e.g. Northern Trust, The Marmon Group, Societe Generale and US Government) | MB Real Estate has maintained leasing & management through four (4) different ownership changes

30 WEST MONROE Hired January 2012 to lease 50% occupied boutique central loop office building | Created and implemented aggressive marketing campaign to re-introduce a very special building to the marketplace | During the initial twelve (12) months on the assignment we leased approximately 100,000 SF, increasing occupancy by more than 40% | Increased achieved rental rates by 20%


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ANAGEMENT / LEASING PORTFOLIO


Citigroup Center* Owner: GE Asset Management Size: 1.5 million square feet Location: Chicago, Illinois

Michigan Plaza* Owner: Aegis Size: 1.9 million square feet Location: Chicago, Illinois

Richard J. Daley Center* Owner: PBCC Size: 1.5 million square feet Location: Chicago, Illinois

181 West Madison* Owner: GE Asset Management Size: 952,000 square feet Location: Chicago, Illinois

Inland Steel Building* Owner: Capital Properties Size: 256,000 square feet Location: Chicago, Illinois

One North Dearborn Owner: The Chetrit Group Size: 884,000 square feet Location: Chicago, Illinois

John Marshall Law School* Owner: John Marshall Law School Size: 226,000 square feet Location: Chicago, Illinois

The LaSalle Wacker* Owner: Private Investor Size: 414,000 square feet Location: Chicago, Illinois

70 West Madison* Owner: Downtown Properties, Inc. Size: 1.4 million square feet Location: Chicago, Illinois * LEED and/or ENERGY STAR certified


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ANAGEMENT / LEASING PORTFOLIO

One North LaSalle Owner: The Chetrit Group Size: 490,000 square feet Location: Chicago, Illinois

55 West Wacker* Owner: Private Investor Size: 209,000 square feet Location: Chicago, Illinois

Astellas North American HQ* Owner: Astellas Size: 440,000 square feet Location: Glenview, Illinois

300 East Randolph* Owner: Health Care Services Size: 1.8 million square feet Location: Chicago, Illinois

Millennium Park* Owner: City of Chicago Size: 24.5 acres Location: Chicago, Illinois

200 West Jackson* Owner: AREA Property Partners Size: 460,000 square feet Location: Chicago, Illinois

205 West Wacker* Owner: Private Investor Size: 264,000 square feet Location: Chicago, Illinois

321 South Plymouth Owner: CBA/John Marshall Size: 99,105 square feet Location: Chicago, Illinois


910 West Van Buren* Owner: United Investors Size: 70,000 square feet Location: Chicago, Illinois

200 West Monroe Owner: Farbman Group Size: 536,000 square feet Location: Chicago, Illinois

333 North Michigan Owner: Wirtz Realty Corp Size: 303,306 square feet Location: Glenview, Illinois

105 West Madison Owner: Receivership Size: 125,729 square feet Location: Chicago, Illinois

550 West Washington Owner: MetLife, Inc Size: 372,000 square feet Location: Chicago, Illinois

10 & 120 South Riverside Owner: Callahan Capital Properties Size: 1.5 million square feet Location: Chicago, Illinois

208 South LaSalle Owner: UST Prime III Office, L.P Size: 355,000 square feet Location: Chicago, Illinois

20 West Kinzie Owner: Alter Group Size: 380,000 square feet Location: Chicago, Illinois

* LEED and/or ENERGY STAR certified


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ECOGNITION & AWARDS

2012

Merit Award for New Construction Astellas Headquarters, Chicago Building Congress Women of Influence Ann Tomlinson, Real Estate Forum Magazine Chicago TOBY Award: Gold Circle Award 55 W. Wacker in Chicago, Building Owners & Managers Association (BOMA)

2011 Office Development of the Year Astellas Headquarters, NAIOP Annual Awards for Excellence Project Manager of the Year MB Real Estate Project Services, GCFD Chicago Commercial Real Estate Awards Build-to-Suit of the Year Astellas Headquarters, GCFD Chicago Commercial Real Estate Awards

2010 Finalist: Innovative Deal of the Year Adler School of Professional Psychology, GCFD Chicago Commercial Real Estate Awards Finalist: Office Development of the Year GBOPHB Headquarters, NAIOP Annual Awards for Excellence Chicago Green Office Challenge Richard J. Daley Center, Leadership in Property Management Excellence Award - City of Chicago Best of the Best “Top Brokers” MB Real Estate, Midwest Real Estate News Best of the Best “Top Property Managers” MB Real Estate, Midwest Real Estate News


2009 Power Broker Award: Top Leasing Firms MB Real Estate, CoStar Group Crain’s Largest Leases in Chicago Office Market MB Real Estate, Crain’s Chicago Business Best of the Best “Top Brokers” MB Real Estate, Midwest Real Estate News Best of the Best “Top Property Managers” MB Real Estate, Midwest Real Estate News

2008 IRM PREMIER Award for Community Services Peter Ricker & John Murphy Chicago Architecture Foundation Annual Gala Food Neighbor Award Oakwood Shores Development Chicago Architecture Foundation

2007 Finalist: Redevelopment of the Year Michigan Plaza, NAIOP Annual Awards for Excellence Finalist: Redevelopment of the Year Michigan Plaza, GCFD Chicago Commercial Real Estate Awards 2007 Power Broker Award: Top Leasing Firms MB Real Estate, CoStar Group Crain’s Largest Leases in Chicago Office Market (Top 10) MB Real Estate, Crain’s Chicago Business Best of the Best “Top Brokers” MB Real Estate, Midwest Real Estate News Best of the Best “Top Property Managers” MB Real Estate, Midwest Real Estate News


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EAL ESTATE SERVICES

ASSET MANAGEMENT

INVESTMENT SERVICES

LEASING/MARKETING SERV

• • • • • • • • • •

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• • • • • • • • •

Accounting & financial reporting Lease terms benchmarking Property performance analysis Standard process development Strategic planning Critical date review & monitoring Operational review Standardized reporting Return on investment analysis Receivership services

Acquisition & disposition Financial modeling Valuation analysis Market research Feasibility analysis Highest & best use studies Capital markets advisory Debt & equity placement Property due diligence Joint venture structuring

Situational analysis & leasing st Tenant retention program Prospecting/broker activities Advertising & repositioning cam Vacancy analysis Competitive building analysis Maintain property database wit Marketing materials design/dev Gather, analyze & return pertine


VICES

trategies

mpaigns

th detail velopment ent data

TENANT/TRANSACTION ADVISORY

PROJECT/CONSTRUCTION SERVICES

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Financial analysis Architectural RFP & selection Efficiency studies Base building review & analysis Municipal incentives Subleasing Demographic & transportation studies Transaction management Strategic planning

Development & project management Project planning Budget & scheduling Due diligence & closing Value engineering Competitive bidding Construction & fit-out oversight Move coordination & project close-out Space planning & programming


CHICAGO - NEW YORK www.mbres.com

MBRE Asset Management & Leasing Services  
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