Transwestern Acquires Prominent Chicago Commercial Real Estate Firm MB Real Estate
Transwestern Real Estate Services announces it has completed the acquisition of Chicago-based MB Real Estate, one of the city’s most lauded full-service commercial real estate firms. The transaction, which adds 120 team members and a regional property management portfolio exceeding 12 million square feet, combines two private real estate firms that share a client-focused business model and innovative, collaborative workplace culture.
“We are thrilled to welcome the MBRE team to the Transwestern family,” said Greg Munson, Executive Managing Director of Transwestern’s Midwest Region. “MB Real Estate is a Chicago institution serving large corporate tenants, private and institutional landlords, and a host of government entities. Its well-deserved reputation for excellence has been built on integrity, keen market insight and high-quality service. With this acquisition, we’ve deepened our presence in Chicago and bolstered our national platform, benefitting team members and clients alike as we together anticipate new real estate opportunities.”
Founded in 1982, MBRE provides multifaceted expertise in asset and facilities management, leasing services, project management, tenant representation and investment services, all of which complement and enhance Transwestern’s resources and offerings in the Midwest. The firm’s leasing and management portfolio, overseen by VP & Managing Directors Mark Buth and Suzanne Hendrick, and SVP & Director of Operations Andre Wiggins, encompasses high-profile office buildings, such as Michigan Plaza and 181 W. Madison, as well as notable city properties including Millennium Park and the Richard J. Daley Center.
Robust corporate real estate services headed by EVP & Managing Director Andrew Davidson along with project services led by EVP & Managing Director David Graff deepen Transwestern’s national tenant advisory expertise, which is delivered to clients from 33 US offices as well as via global alliances in Canada and Europe. The MBRE team has built strong relationships with occupiers across multiple standout commercial real estate sectors, including life sciences, healthcare, logistics and financial services. Notable national brokerage and project management assignments include 2.5 million square feet of transactions for Astellas Pharma, US, Inc., including a build-to-suit for its North American headquarters, and over 800,000 square feet of transactions in 12 states for Coyote Logistics, a UPS company.
“We believe Transwestern’s integrated national platform, investment in technology, and unmatched expertise in the healthcare and life sciences space best position us to build on historic success while delivering the greatest value to our longstanding clients,” said Davidson, who launched MBRE’s tenant advisory practice more than two decades ago. “A shared commitment to service, passion for innovation and dedication to community are all integral in our approach to advising real estate owners, occupiers and investors, both locally and nationally. This remains the cornerstone of our newly combined team in Chicago.”
Celebrating its 45th anniversary in 2023, Transwestern is a diversified commercial real estate firm with more than 2,100 team members nationwide. TRS President Tom Lawyer explained that the firm’s continued success is rooted in a commitment to extraordinary service and an ability to adapt to real estate trends and overall market dynamics.
“Key to being a strong partner to owners, tenants and investors is anticipating their needs,” Lawyer said. “Transwestern’s growth strategy includes strengthening our presence in existing markets with the products, services and talent that will help clients achieve their goals as we together navigate a new era for real estate.”
MBRE began operating as Transwestern on January 1, 2023. In the Midwest region, Transwestern has over 300 team members and oversees 44 million square feet of commercial assets on behalf of clients.
About Transwestern Real Estate Services
Transwestern Real Estate Services (TRS) adds value for investors, owners and occupiers of all commercial property types through a comprehensive perspective and by providing solutions grounded in sound market intelligence. Part of the Transwestern companies, the firm applies a consultative approach to Agency Leasing, Asset Services, Tenant Advisory + Workplace Solutions, Capital Markets, and Research & Investment Analytics.
The privately held Transwestern companies have been delivering a higher level of personalized service and innovative real estate solutions since 1978. Through an integrated, customized approach that begins with good ideas, the firm drives value for clients across commercial real estate services, development, investment management , and opportunistic endeavors for high-net-worth investors. Operating from 33 US offices, Transwestern extends its platform capabilities globally through strategic alliance partners whose unique geographic, cultural, and business expertise fuels creative solutions. Learn more at transwestern.com and @Transwestern.