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BentleyForbes Reports 97,000 Square Feet of Recent Leasing Activity at Prudential Plaza

CHICAGO, Feb. 15 PRNewswire — BentleyForbes (http://www.bentleyforbes.com), owner and operator of the iconic Prudential Plaza office towers overlooking Millennium Park in Chicago's East Loop district, today reported nearly 100,000 square feet of new and renewal leasing activity at the property in recent months.

"We are proud of the quality operating environment Prudential Plaza offers Chicago's professional community," said C. Frederick Wehba, founder and chairman of BentleyForbes. "Prudential Plaza is a trophy property within our national portfolio, and our ongoing efforts to maintain its premier status are validated by these recent commitments." (http://www.bentleyforbes.com/bio.php?se=cmp&name=wehba&ldr=exec)

Since acquiring Prudential Plaza in 2006, BentleyForbes has invested more than $50 million towards capital improvements, leasing and operations costs to elevate the property's Class A finishes, tenant office space and building infrastructure. Efforts to date have included: the addition new restaurants, featuring the popular Tavern at the Park; the build out of move-in ready "spec" office suites in various sizes and configurations; and the continued improvement of the building's common areas, with upgrades to each tower's multi-tenant corridors, restrooms, elevator cabs, the lobby concourse and the overall property's exterior finishes.

"Prudential Plaza continues to attract Chicago's top corporate citizens through its enviable location overlooking Millennium Park, Class A finishes, advanced communications infrastructure and efficient floor plans," said Bert Dezzutti, chief operating officer of BentleyForbes. "Our management and leasing teams have done a tremendous job in executing our long-term operating vision at Prudential Plaza, which is focused on creating a best-of-class professional environment for Chicago's diverse business community."

Since December of 2007, BentleyForbes has signed new, renewal and expansion lease agreements with eight tenants. Prudential Plaza is currently 94 percent leased. In each lease, BentleyForbes was represented by Andrea Saewitz and Lauren Alexander with J.F. McKinney & Associates, who oversee marketing and leasing for Prudential Plaza.

Individual transactions and cooperating tenant brokers include: — Marketing Werks: 44,463 square feet. One Prudential Plaza. Kyle Kamin, CB Richard Ellis. New. — Baker & McKenzie: 16,058 square feet. One Prudential Plaza. Bill Rogers and Steve Steinmeyer, Jones Lang LaSalle. Expansion. — Aleri: 15,206 square feet. Two Prudential Plaza. Bill Rogers, Bill Pickrell and Steve Steinmeyer, Jones Lang LaSalle. Renewal. — CBS TV: 10,618 square feet. Two Prudential Plaza. David Matthews, Staubach. New. — PR Newswire: 4,195 square feet. Two Prudential Plaza. Bill Sheehy, Jones Lang LaSalle (formerly with CB Richard Ellis). New. — Lawyers Trust Fund of Illinois: 3,442 square feet. Two Prudential Plaza. Michael Pink, MAP Real Estate. New. — West Walker Steel: 1,857 square feet. Two Prudential Plaza. James Murray, James R. Murray & Associates. New. — Shea Financial Group: 1,344 square feet. Two Prudential Plaza. Scott Becker, Transwestern Commercial Services. New.

Prudential Plaza is a landmark address that occupies a full city block overlooking North Michigan Ave. at its intersection with E. Randolph St. in Chicago's culturally rich East Loop commercial district. The dynamic campus features approximately 2.2 million square feet of Class A office space in two distinctive towers, reaching 41- and 64-stories, respectively.

Notably, the property features sweeping, unobstructed views from almost every floor of Lake Michigan, Michigan Avenue, the city skyline, the Chicago River and the internationally lauded Millennium Park. Prudential Plaza also offers a shared, landscaped plaza entry and more than 90,000 square feet of signature retail space easily accessible to building tenants and pedestrian traffic from Millennium Park.

About BentleyForbes:

Founded in 1993 by C. Frederick Wehba and members of his family, including C. Frederick Wehba II, privately-held BentleyForbes is a national real estate investment firm focused on the acquisition, ownership and management of trophy Class A office buildings, luxury resort and hotel properties and select high-quality industrial and retail facilities. Currently, the Company owns and operates a portfolio of assets valued in excess of $2.7 billion that comprises approximately 7.9 million square feet in total consideration located in diverse markets across the United States. Typical investments for the Company range from $30 million to $500 million and beyond, emphasizing multi-tenanted and single-tenanted Class A office properties in top CBD or regional submarket locations and best-of-class luxury resort and hotel properties in major MSA or resort destination markets. Furthermore, the Company is recognized for its expertise in the acquisition and management of single tenant and/or sale-leaseback property investments, and continues to invest in assets of this type on a select basis. From its Los Angeles headquarters, BentleyForbes employs a roster of real estate experts well versed in commercial real estate investment, finance, law, accounting and asset management. The Company also has regional offices in Atlanta, Chicago, Dallas, Ft. Lauderdale and Washington D.C. For more information, please logon to http://www.bentleyforbes.com.

SOURCE BentleyForbes

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