Two new tenants assume 40,000 square feet of space in prominent loop landmark

SOUTHFIELD, Mich. – Bell Acquisition LLC today announced two new tenants at Bell Federal Building, 79 W. Monroe in Chicago’s Loop, an increase in the property’s occupancy rate of 27 percent. The announcement was made by Andy Farbman, Bell Acquisition LLC member and president of Farbman Group, a Full Service Commercial Real Estate Company.  The property was purchased in early 2011.
 
“These deals are very important transactions in our portfolio and demonstrate the continued need for quality office space in this region,” said Farbman. “The Bell Federal Building is in a prime location, with many floors in move-in ready condition and priced competitively, making it an ideal location for start-up and experiential companies. People also see value in a well positioned property, and our attention to property and tenant details is already attracting top-notch tenants.”
 
New tenants include Columbia Insurance (Resolute). Columbia has signed a lease for 24,181 square feet of office space. The deal was co-brokered with Matt Carolan and Kurt Kittner of Jones Lang LaSalle as tenant representatives and Andrew DeMoss of Bradford Allen, who represented the landlord. 
 
Additionally, co-brokered by tenant representative Joe Storiz of Marc Realty and landlord representative Andrew DeMoss of Bradford Allen, S&R Media has signed a lease for 14,827 square feet in the Bell Building.
 
Bradford Allen is a Chicago-based national commercial real estate firm providing brokerage services and expert advice to private, public and not-for-profit companies. The agency services group has been assigned as the listing agent for the former Bell Federal Savings & Loan building. 
 
“We are excited to market this historic space within the Bell Building, which has never before been available to the marketplace,” said Jeffrey Bernstein, a principal and co-founder of Bradford Allen who leads the firm’s growing agency practice. “Having worked with Farbman Group for several years, we can attest to the ownership’s attentiveness and professionalism and look forward to assisting them with this new Loop endeavor.”
 
Located at Monroe and Clark, the nearly 200,000 square feet Bell Federal Building is often recognized for its exterior landmark weather bell, which changes color in accordance with temperature.
 
Built in 1906, the 13-floor, historically significant structure has considerable street presence and high visibility. Seven floors of the building have already been built out and are ready for immediate occupancy. The property has 100,000 square feet of contiguous space, which was previously occupied by Bank of America.
 
Further information, including photos of the building, a video tour and neighborhood establishments, is available by downloading the iPad and iPhone apps from the iTunes store.

About Bradford Allen 
Bradford Allen Realty Services, a Chicago-based commercial real estate firm, makes a full range of services and expertise available to entrepreneurial and corporate business entities, and not-for-profit organizations. The firm provides real estate strategy, advice, marketing, and transaction execution for occupiers, investors and owners of real estate. Please visit our website at www.bradfordallen.com.

 
About Farbman Group
Founded in 1976, Farbman Group is a leading full-service real estate organization handling all facets of real estate transactions, from brokerage, property management and leasing to acquisition and disposition. Today, Farbman is one of the largest and most respected full service organizations in the Midwest. The firm manages more than 20 million square feet of office, retail, multi-family and industrial space throughout Southeast Michigan and Illinois and is recognized as a leading commercial management and brokerage firm by clientele. For more information, please visit Farbman.com.

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