|
contents | business | |||||||||
| Hines acquires 101 North Wacker in Chicago The Chicago office of Hines, the international real estate firm, announced that its Hines U.S. Office Value Added Fund II, L.P. (HVAF II) has acquired 101 North Wacker, a 23-story, 600,000-square-foot office building located in the West Loop submarket of Chicago's Central Business District. The project was part of a six-building portfolio purchase where Tishman Speyer designated Hines as the purchaser. Tishman Speyer acquired the remaining five properties in the simultaneous closing. Financials on the deal were not disclosed. Designed by Perkins and Will, 101 North Wacker was completed in 1980, and underwent a renovation in 1990. The building features excellent amenities and is in a superior location on the northeast corner of Wacker Drive and Washington Street, steps away from Chicago's commuter train stations (Ogilvie & Union stations). 101 North Wacker is 83 percent leased to a diversified mix of tenants including: TTX Company, Hartmarx Corporation, YMCA and The Segal Company. Hines will manage and lease the property. write your comments about the article :: © 2007 Construction News :: home page |