FRIDAY, NOVEMBER 20, 2009

Robert Morris inks largest CBD lease in 2009

by Illinois Real Estate Journal Reports
Chicago

Robert Morris University, the 10th largest private university in Illinois, has signed the largest lease to date in 2009 in the Chicago CBD, a 323,000-square-foot lease expansion and extension at 401 South State Street.

The school expanded by 39,000 square feet to effectively double in size since its move to this location within Chicago's education corridor in 1998, explained Joseph Learner, executive vice president, director and co-branch manager of international commercial real estate service firm Studley's Chicago office, the firm that represented Robert Morris University in the transaction.

"This lease provides the university with a state-of-art home facility and place to call home for a long time," said Mr. Learner. "The expansion space will support the school's future growth, allowing it to expand the programs it offers to its student body. In a difficult economic environment, RMU continues to grow and invest in downtown Chicago and throughout its campus system."

Robert Morris University offers professional, career-focused education in a collegiate setting to diverse communities. Robert Morris University is an independent, not-for-profit, multi-location institution offering associate, baccalaureate, and graduate degree programs that focus on integrating theory and applications. Robert Morris University prepares students to be practitioners in their chosen field, socially responsible to their community, and a foundation for their family.

The ownership group of 401 South State Street was represented by its managing partner Anvan in the transaction.

Mid-America Real Estate adds industry vet to Minnesota office Opus North, Marquette University partner for engineering facility in Milwaukee NorthMarq brokers represent Minneapolis Public Schools in large school building lease McCarthy/KWAME begins construction-management work on St. Louis-area school project It's not a flying saucer! It's the Dinkydome in Minneapolis Leopardo awarded $9.5M Adler School project 65-year-old university is growing up Transwestern negotiates 15-year lease for Adler School University of Phoenix expands in Chicago