Riverview Realty Partners announced today that ContextMedia, Inc. and SmithBucklin Corporation, have entered into lease agreements at AMA Plaza, 330 North Wabash, in downtown Chicago with an affiliate of Riverview. The lease with ContextMedia, Inc. provides for it to lease the entire 25th floor of AMA Plaza, consisting of 32,650 rentable square feet, to house its corporate headquarters and operations beginning in May of 2014. SmithBucklin Corporation is expanding its space in the building by 4,048 rentable square feet on the 14th floor.
“We are very pleased to announce that AMA Plaza is now in excess of 95% leased”, said Steven R. Baron, Riverview Realty Partners’ Executive Vice President of Leasing. “Naturally, we are excited to achieve this leasing milestone but we are even more gratified to achieve this accomplishment with such high quality tenants including The American Medical Association, the international law firm of Latham & Watkins LLP, SmithBucklin Corporation and BDO USA LLP. This exceptional tenant roster validates the quality of the building’s redevelopment.”
"ContextMedia has more than doubled its revenue in each of the past four years and we're excited to move our headquarters to 330 N Wabash,” Said Rishi Shah, CEO of ContextMedia. “In our new home, we will be able to continue to add teammates rapidly and build an office environment that matches the extraordinary energy, creativity and vibrance of our people. Among many other features, our new premises will have an internal coffee shop for our employees and space to accommodate community events with over 200 guests."
AMA Plaza is owned by a joint venture between subsidiaries of Riverview Realty Partners, a real estate company headquartered in Chicago, and Five Mile Capital Partners LLC, a Connecticut-based commercial real estate and alternative investment firm, which also owns Riverview. AMA Plaza contains approximately 1.14 million rentable square feet of office space and was designed by famed architect Mies van der Rohe and completed in 1971. It was designated with landmark status by the City of Chicago in 2008. Riverview is the property manager and leasing agent for the property.
ContextMedia, Inc. was represented in this transaction by Brad Serot and Paul Reaumond of CBRE. SmithBucklin Corporation was represented by Howard Ecker of Howard Ecker & Co. Riverview Realty Partners was represented by Steven R. Baron.
The building has undergone a renovation that includes a new state of the art fire and life safety system, new restrooms, elevator and cab modernizations, updating of the building’s HVAC system, and asbestos abatement. Also recently completed for the benefit of all of the building’s tenants is a new 5,000 square foot state of the art fitness center, a food service cafe and a conference center.
In addition, the new five-star Langham Chicago Hotel, owned and operated by The Langham Hospitality Group, is located on floors 2-13 of AMA Plaza and opened in July 2013. The hotel features approximately 316 rooms and suites and includes a full service restaurant (including private dining facilities), elegant and sophisticated meeting and conference facilities, as well as a fitness facility and the hotel's award-winning wellness retreat, Chuan Spa.
About ContextMedia, Inc.
Based in Chicago, ContextMedia owns and operates a suite of digital healthcare networks delivering condition-specific programming at point-of-care in all 50 states. ContextMedia empowers healthcare professionals to engage patients while curating content personalized for each member practice. As a mission-driven organization, the firm strives to deliver media as a service to educate and inspire audiences utilizing the latest digital media technologies. The company’s state-of-the-art healthcare platforms are supplemented with mobile technologies built for a range of technology proficiency levels. To learn more, please visit www.contextmediahealth.com.
SmithBucklin is the association management and services company more organizations turn to than any other. Founded in 1949, the company’s mission is to drive growth for its client organizations and provide uncompromised stewardship for their long-term prosperity. SmithBucklin provides full-service management and high-impact specialized services to trade associations, professional societies, technology user groups, corporations, government institutes/agencies and other nonprofit organizations. SmithBucklin’s offices are located in Chicago, Washington, D.C., Old Lyme, Conn., St. Louis and San Ramon, Calif. and the SmithBucklin + MCI Worldwide Partnership provides client organizations with seamless association and event management services from more than 40 offices throughout the world. The company is 100 percent employee-owned. For more information, please visit www.smithbucklin.com or call 1-800-539-9740.
About Riverview Realty Partners
Riverview Realty Partners is a self-administered and self-managed real estate investment company which owns, manages, leases, develops and redevelops office and industrial real estate. The Company currently owns one office property containing 167,756 net rentable square feet and a joint venture interest in a building comprised of approximately 1.14 million net rentable square feet. The Company leases and manages its properties, and also oversees the leasing and management of various other properties for affiliates of Five Mile including a portfolio of five properties containing 638,004 rentable square feet in the Cleveland Ohio metropolitan area. For more information about Riverview Realty Partners, contact the Company's Chicago headquarters at (312) 917-1300 or visit its website at www.rrpchicago.com.
About Five Mile Capital Partners
Five Mile Capital Partners LLC is an alternative investment and asset management company established in 2003. The firm specializes in investment opportunities in real estate, debt products, structured finance, asset-based lending and financial services private equity. Five Mile’s Principals have significant experience, knowledge and skills relevant to the financial services industry and believe the cyclical and dynamic nature of the sector continually provides a broad opportunity for investments across the capital structure. The Firm’s headquarters are based in Stamford, Connecticut with an office in New York City. Five Mile has approximately $2 billion in assets under management. For more information, visit www.fivemilecapital.com.
This press release contains certain forward-looking statements which involve known or unknown risks, uncertainties or other factors not under the Company’s control which may cause the actual results, performance or achievement of the Company to be materially different from the results, performance or other expectations implied by these forward-looking statements.
- Investment & Company Information
Steven R. Baron