Skip to content
Learn How KBS is Creating Safe Work Environments
kbs logo
  • Investors
    • KBS Capital Markets Group
  • Properties
  • News & Insights
  • About Us
  • Contact

    Our Offices

    Corporate Headquarters

    800 Newport Center Drive, Suite 700
    Newport Beach, CA 92660

    (949) 417-6500

    info@kbs.com

    Washington DC Office

    3003 Washington Boulevard, Suite 950
    Arlington, VA 22201

    (202) 822-1230

    Facebook-f Twitter Linkedin-in Instagram
    Corporate Headquarters
    800 Newport Center Dr., Suite 700 Newport Beach, CA 92660
    info@kbs.com
    (949) 417-6500
    New York Office
    590 Madison Avenue, 26th Floor New York, NY 10022
    (212) 644-6662
    Washington, DC Office
    3003 Washington Boulevard, Suite 950, Arlington, VA 22201
    (202) 822-1230
    Contact Us
    KBS is an SEC-registered full-service investment adviser adept in various property and product types.
Learn How KBS is Creating Safe Work Environments
kbs logo
ArtboardCreated with Sketch.
Press Releases

KBS and Transwestern Real Estate Services Sign Property Management Agreement for Two Chicago Office Buildings Totaling More Than 170,000 Square Feet

  • February 10, 2021
Press Releases

KBS and Transwestern Real Estate Services Sign Property Management Agreement for Two Chicago Office Buildings Totaling More Than 170,000 Square Feet

  • February 10, 2021

KBS, one of the largest investors in premier commercial real estate in the nation, and commercial real estate services firm Transwestern Real Estate Services (TRS) have signed an agreement for TRS to provide property management services for two office buildings totaling more than 170,000 square feet.

The properties, both owned by KBS Growth & Income Real Estate Investment Trust, include 213 W. Institute Place and 210 W. Chicago Ave. in Chicago’s River North submarket. The buildings represent the second and third KBS-owned properties that Transwestern will provide asset services for in Chicago, with the first being Accenture Tower, owned by KBS Real Estate Investment Trust III, winner of an International TOBY Award.

“KBS has a long history of identifying service providers who can deliver the superior level of quality management and care that our tenants and investors have come to expect from properties in our portfolio,” says Dan Park, asset manager for 213 W. Institute Place and 210 W. Chicago Ave. and senior vice president for KBS. “Transwestern Real Estate Services has proven itself an extraordinary management team for Accenture Tower. We are excited to extend this top service to two more of our iconic office properties in the Chicago market.”

River North is an affluent mixed-use submarket that continues to attract traditional corporate and creative office tenants as the area has evolved into a prominent location for both young, highly-educated professionals and the city’s premier decision-makers, according to Park.

“KBS recognizes the value of the River North submarket to offer the walkable amenities that Chicago office users are looking for,” says Park. “This region of the CBD offers an abundance of restaurants, bars, cafes, lounges and music venues. The ability to maintain a high-quality of life with a walkable urban environment has made River North the pre-eminent location for millennial employees, providing a best-in-class ‘live-work-play’ environment. KBS has been able to leverage these advantages to provide highly desirable office space.”

Throughout the COVID-19 pandemic, the Asset Services group at Accenture Tower has been proactive – swiftly implementing sanitization and distancing protocol in accordance with CDC guidelines, communicating regularly with tenants, and maintaining tenant engagement through socially distant events for occupants who have returned to the office, according to Micah Larmie, Senior Vice President of Transwestern’s Midwest Asset Services Group.

“We are thrilled to have the opportunity to expand our services for KBS and its Chicago office portfolio tenants,” says Larmie. “During the COVID-19 pandemic, our team has been working tirelessly to mitigate concerns and communicate with our tenants, and we will bring the same high level of service to 210 W. Chicago and 213 W. Institute.”

Originally built in 1888, 213 W. Institute Place is a Class A, 155,385-square-foot converted brick-and-timber loft office building within walking distance of shopping, restaurants, bars, hotels and transportation. The property underwent a full renovation in 2015, including more than $6.3 million worth of capital improvements and the addition of a 32-stall parking lot.

Built in 1914 as a post office, 210 W. Chicago Ave. is a 16,239-square-foot historic retail and office building. It was fully renovated in 2000 to offer creative boutique office and retail space. The adjacent properties are located within walking distance to the purple and brown Chicago “El” station.

Nationally, Transwestern leases and manages 35 properties on behalf of KBS, accounting for nearly 16.5 million square feet of commercial office space.

Media Contact

Lexi Astfalk or Jenn Quader

KBS Media
949-438-6262
kbs@brower-group.com

Ginny Walker

KBS Media
949-417-6535
gwalker@kbs.com

More Articles

Industry Trends

Underwriting the Perceived Instability of Short-Term Office Leases

  • February 16, 2021
The threat of shorter office lease terms has been looming over the commercial real estate industry for several years. Companies first braced for the potential impact of new standards from the International Accounting Standards Board (IASB) recognizing all leases on the balance sheet, which took effect in January 2019. Then, the office leasing world was hit with additional challenges from COVID-19 as many companies opted to work from home and re-evaluated the role of their physical office space.
Industry Trends Insights

Envisioning the Future of the Built Environment

  • January 29, 2021
Amidst the ongoing crisis, built environments are at the front lines of change and will play a huge role in creating a more resilient world going forward. Office architects are re-envisioning the future of the workplace—where and how we work. Unfortunately, there is no crystal ball to predict exactly what the new future-oriented office will look like, but what we do know is flexibility and adaptability will be key in resilient design.
Industry Trends

Why Texas is becoming a commercial real estate powerhouse

  • January 21, 2021
It looks like 2021 will be another big year for Texas, a year when a lot of major companies will make the jump and move to the Lone Star state. Just look at these transitions:
See All
Our Company
  • Investors
  • Properties
  • News & Insights
  • About KBS
Resources
  • Premier Office Magazine
Get in Touch
Facebook-f Twitter Linkedin-in Instagram
  • Careers

© 2023 KBS

  • Terms & Conditions
  • Privacy Policy
  • Home
Investors
  • KBS Capital Markets Group
  • Properties
  • News & Insights
  • About Us
Contact Us
  • Corporate Headquarters
  • New York Office
  • Washington, DC Office