Press Releases

BPG ANNOUNCES 40,000 SF LEASE WITH JOHNSON PUBLISHING AT 200 S MICHIGAN AVENUE IN CHICAGO, IL

<p><b>CHICAGO, IL. – (January 9, 2012) </b>– BPG Properties, Ltd. (BPG), one of the nation’s leading private equity real estate fund managers, announced that Johnson Publishing Company, LLC (Johnson Publishing) has executed a long-term lease for approximately 40,000 square feet at 200 South Michigan Avenue in downtown Chicago, Illinois. Johnson Publishing will occupy the top three floors of the 357,777 square foot, 22-story office building that is just steps away from Millennium Park.</p> <p>“We are pleased that Johnson Publishing Company, a well known Chicago media firm, has chosen to relocate to 200 South Michigan Avenue,” said Joseph I. Neverauskas, senior vice president in charge of BPG’s Midwest Regional Office. “Our tenant roster has changed dramatically over the last few years and includes creative users like RTKL Associates, Inc and Lauglin Constable, who are taking advantage of the cultural amenities resulting from the transformation of the East Loop Neighborhood.” </p> <p>Founded in 1942 by John H. Johnson and Eunice W. Johnson, Johnson Publishing Company, LLC is the leading, independently-owned Black American media publisher with headquarters in Chicago and offices in New York and London. Through its media division, the Company publishes EBONY and JET, which rank #1 and #3, respectively, among Black American magazines. The Company also owns Fashion Fair Cosmetics, which it launched in 1973, a global prestige cosmetics brand for women of color. </p> <p>“The move accomplishes two important goals for Johnson Publishing. It allows us to leverage the value of our current home, and provides new prime office space that will support us in meeting our future objectives,” explained Desiree Rogers, CEO, Johnson Publishing, LLC.</p> <p>The landlord was represented in the lease negotiations by Jeff Bernstein, principal, Ben Azulay, managing director and Andrew DeMoss, director of Bradford Allen Realty Services, the exclusive leasing agent for the building. Johnson Publishing was represented by David Herbert, vice president, and Michael D’Angelo, senior vice president of UGL Services. </p> <p>Since its acquisition in 2000, BPG has completed an extensive multi-million renovation program at 200 South Michigan Avenue. In 2002, the building was awarded the prestigious 2002 TOBY (The Office Building of the Year) in the Renovated Building category by the Chicago Chapter of the Building Owners and Managers Association (BOMA). The building is located adjacent to the Chicago Orchestra Hall and Art Institute.</p> <b>About BPG Properties, Ltd</b><br> BPG Properties, Ltd. is one of the nation’s leading private equity real estate fund managers. BPG’s portfolio consists of over 24 million square feet of office, retail, student housing, and industrial properties and more than 18,000 apartment units in over 70 communities located throughout the United States. The firm is headquartered in the Philadelphia area with regional offices in Los Angeles, Chicago, Washington DC, Boston, Atlanta and Raleigh-Durham. For additional information, please visit the company’s website at www.bpgltd.com.<p> <b>For additional information on BPG Properties, Ltd., please contact:</b><br> Joseph G. Nahas, Jr., Vice President, 215-575-2363<p> <b>For additional information on the property, please contact:</b><br> Joseph I. Neverauskas CRE, Senior Vice President, 312-427-8740