Horwood Marcus & Berk Expands and Renews at 500 West Madison

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Savills Studley represents world-class law firm in lease restructure at its long-term West Loop home at 500 West Madison

Horwood Marcus & Berk Chartered(HMB), will renew and expand its lease to 36,295 square feet at 500 West Madison, in a new long term lease agreement.

We were able to secure the balance of the floor for a very competitive economic structure, in addition to a garnering a generous concession package that will enable the renovation and expansion of the space.

Savills Studley, the leading commercial real estate services firm, announces that long term client, Horwood Marcus & Berk Chartered(HMB), will renew and expand its lease to 36,295 square feet at 500 West Madison, in a new long term lease agreement. HMB will now lease the entire 37th floor at Citigroup Center.

Executive Vice Presidents, Rick Schuham and John Goodman of Savills Studley negotiated the transaction for the firm. Michael Lirtzman and Courtney Baratz of Transwestern represented the landlord, KBS Realty Advisors.

According to Schuham, HMB has been a tenant in 28,850 square feet of space since 2010 and has continued their success and growth in this Class A, amenity rich property. “We were able to secure the balance of the floor for a very competitive economic structure, in addition to a garnering a generous concession package that will enable the renovation and expansion of the space.”
“We have greatly enjoyed our tenancy in the building and continue to experience success as a result of our valued clients. Our partnership with Savills Studley has produced fantastic occupancy results for our firm permitting us to perform at the highest levels for our clients” according to Jeff Hechtman, a Partner at Horwood Marcus & Berk.

About Horwood Marcus & Berk
Horwood Marcus & Berk combines the resources and diversity of a sophisticated commercial law practice with the entrepreneurial atmosphere and creativity of a boutique law firm. We provide world-class resources to clients by drawing on the firm's demonstrated capabilities and relationships to build a team of professionals with proven experience. The unique combination of HMB's unyielding commitment to service excellence along with our flexible team-building approach enables the firm to deliver outstanding results for our clients.    

About Savills Studley
Savills Studley is the leading commercial real estate services firm specializing in tenant representation. Founded in 1954, the firm pioneered the conflict-free business model of representing only tenants in their commercial real estate transactions. Today, supported by high quality market research and in-depth analysis, Savills Studley provides strategic real estate solutions to organizations across all industries. The firm’s comprehensive commercial real estate platform includes brokerage, project management, capital markets, consulting and corporate services. With 25 offices in the U.S. and a heritage of innovation, Savills Studley is well known for tenacious client advocacy and exceptional service.

The firm is part of London-headquartered Savills plc, the premier global real estate service provider with over 27,000 professionals and over 600 locations around the world. Savills plc is listed on the London Stock Exchange (SVS.L).

For more information, please visit http://www.savills-studley.com and follow us on Twitter @SavillsStudley and LinkedIn.

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Angela Bonnici
Savills Studley
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