Transactions - JULY 30, 2014

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Accesso buys Chicago office tower for $122m

by Andrea Waitrovich

Accesso Partners, formerly known as Beacon Investment Properties, has acquired 230 W. Monroe St., a 29-story, class A office tower in downtown Chicago’s West Loop, for $122 million, or $196 per square foot.  The sellers were Lincoln Property Co. and Pimco.

The 66 percent occupied 623,564-square-foot building, which had a lobby renovation and elevator modernization in the last year, is Accesso’s fifth office property buy in the Chicago area in the past eight months. Major tenants include First Northern Credit Union and RTI International.

The previous owners purchased the office in August 2012 for $91.3 million.

In May 2014, Accesso purchased 200 W. Monroe St. for $100 million, or $187 per square foot, from Far

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