Savills Studley Represents Bel Brands in Long Term Lease Extension and Expansion in the West Loop

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Savills Studley represented Bel Brands in its lease extension and expansion of the company’s North American Headquarters at 30 South Wacker Drive (The CME Center), where it took 40,336 square feet, a 15% increase from its original footprint.

Bel Brands USA has expanded on the 28th floor of the South Tower and maintained its current premises on the 28th and 30th floors.

After evaluating market alternatives, we ultimately concluded that the most compelling solution for Bel Brands was within its existing building, where the company will be able to effectuate meaningful upgrades cost effectively through a revised lease.

Savills Studley represented Bel Brands in its lease extension and expansion of the company’s North American Headquarters at 30 South Wacker Drive (The CME Center), where it took 40,336 square feet, a 15% increase from its original footprint.

Bel Brands USA, the U.S. subsidiary of Fromageries Bel - a world leader in branded cheeses based in Paris, France - has expanded on the 28th floor of the South Tower and maintained its current premises on the 28th and 30th floors.

Executive Vice President and Co-Head of Savills Studley’s Chicago office, Robert Sevim and Executive Vice President and Director, Joe Learner represented the tenant in the lease negotiations; Joe Gordon of Tishman Speyer represented the landlord in house. Savills Studley’s Renae Bradshaw led all workplace strategy efforts on behalf of Bel Brands.

As Bel Brands USA is experiencing growing success in North America, the company needed to expand its workforce and engaged Savills Studley to look at how it operated spatially through a study of its workplace environment.

“By conducting an analysis of real estate and workplace requirements, we were able to provide Bel with a strategy to reduce costs while increasing workplace effectiveness, attracting talent and supporting high growth,” said Bradshaw.

“After evaluating market alternatives, we ultimately concluded that the most compelling solution for Bel Brands was within its existing building, where the company will be able to effectuate meaningful upgrades cost effectively through a reconstituted lease agreement,” said Sevim. “We were able to arrive at a mutually beneficial arrangement between Tishman Speyer and the tenant, which had been a loyal headquarters occupier of the building for several years.”

President and CEO of Bel Brands USA, Frederic Nalis, added, “Our expansion and workplace improvements at 30 South Wacker Drive allows us to elevate our brand identity and company profile within the thriving Chicago business community. It is a positive and exciting reflection of our continued success and growth.”

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 27 offices in the U.S. and Canada, 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 30,000 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 LinkedIn and Twitter @SavillsStudley.

About Bel Brands USA
Bel Brands USA, Inc., headquartered in Chicago, manufactures and markets Bel’s global branded Mini Babybel®, The Laughing Cow®, and Boursin®, as well as local brands including Merkts®, Kaukauna®, Price*s Pimiento®, Wispride ® and Owl’s Nest. Bel Brands USA operates three productions sites: Brookings, South Dakota; Leitchfield, Kentucky; and Little Chute, Wisconsin. The mission of Bel Brands USA is “To delight people with a great tasting, unique cheese experience that fits their lifestyle.” Bel has nearly 900 employees in the U.S. For six years in a row, Bel Brands USA has been named one of Chicago’s “101 Best and Brightest Companies to Work For”. Bel Brands USA is a subsidiary of Paris-based Bel Group, a world leader in branded cheeses. For more information, visit http://www.belbrandsusa.com or http://www.mini-babybel.com/ or on Twitter: @belbrandsusa.

About Bel Group
Bel Group is a world leader in branded cheese. Its portfolio of differentiated and internationally recognized brands, including such products as The Laughing Cow®, Kiri®, Mini Babybel®, Leerdammer®, and Boursin®, as well as some 20 local brands, enabled the Group to generate sales of $3.5 billion in 2013. Nearly 11,000 employees in some 30 subsidiaries around the world contribute to the Group’s success. Bel products are prepared at 28 production sites and distributed in over 130 countries. Visit http://www.groupe-bel.com for more information.

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Angela Bonnici
Savills Studley
+1 212-588-3422
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