Office Properties Income Trust (OPI) has completed the acquisition of two class A office properties for a total of $550 million.
OPI acquired the approximately 531,190-square-foot class A office property known as 1K Fulton in Chicago for $355 million. The property is 73 percent leased to Google as its Midwest headquarters and 99 percent leased overall. It is located one block from the Chicago Transit Authority rail stop, and features many amenities, including 157 subterranean parking spaces, ground-floor retail, a premier steak house restaurant, two fitness centers and multiple roof decks. The property is in the Fulton submarket of Chicago, which has experienced strong population growth and modern residential and mixed-use development attracting Fortune 500 companies such as Google and McDonald’s.
OPI also acquired the approximately 345,917-square-foot class A office property known as Twelve24 in Atlanta for $195 million. The property is 96 percent leased to Insight
