Investors - OCTOBER 17, 2013

To read this full article you need to be subscribed to Newsline.

Sign in Start Your Free Trial Now View Purchase Options

CBRE buys Chicago office building on behalf of Korean investors

by Andrea Waitrovich

CBRE Global Investors’ U.S. Managed Accounts Group has acquired 161 N. Clark St., a 49-story trophy-quality office building located in the Central Loop submarket of downtown Chicago, on behalf of a consortium of Korean investors led by Korea Post. The seller was Tishman Speyer Properties. The sales price was approximately $312 million for the 1.1 million-square-foot high-rise. CBRE Global Investors declined to comment on the sales price.

The property is 93 percent leased to a diverse roster of high-quality tenants with limited rollover. Tishman Speyer purchased the tower in 2007 as part of the largest real estate deal in Chicago history, its $1.72 billion purchase of the downtown Chicago portfolio of the former Equity Office Properties Tru

Glossary, videos, podcasts, research in the Resource Center

Forgot your username or password?

Close your account?

Your account will be closed and all data will be permanently deleted and cannot be recovered. Are you sure?

We respect your privacy! Please give consent for processing data as described in our Privacy Policy