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| 10 and 120 South Riverside Plaza, West Loop, Chicago, IL |
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| Jaime Fink |
CHICAGO, IL – HFF announced it has closed the
$361 million sale of 10 and 120 South Riverside Plaza, a two-building,
21-story Class A office property totaling more than 1.4 million square
feet in Chicago’s West Loop.
HFF
marketed the property on behalf of the seller, TIER REIT, Inc. An affiliate of Ivanhoe Cambridge advised by
Callahan Capital Properties purchased the asset for $361 million.
10 and 120 South Riverside is located on the western bank of
the Chicago River’s South Branch directly between Union Station and the Ogilvie
Transportation Center.
Designed by
Skidmore, Owings and Merrill and completed in 1966 by Tishman Midwest, the buildings
underwent renovation in 1999 and are 89 percent leased to tenants such as CDW,
Zurich American Insurance Company, Arnstein & Lehr and Plante Moran.
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| Jeff Bramson |
The HFF team representing the seller was led by senior
managing directors Jaime Fink and Jeff Bramson and managing
director Mark Katz.
TIER REIT, Inc. is a Dallas, Texas-based real estate
investment trust focused on providing quality, attractive, well-managed
commercial office properties in dynamic markets throughout the United States,
including Houston, Austin and Dallas/Ft. Worth, Texas; Chicago, Illinois;
Philadelphia, Pennsylvania; Washington, D.C.; Charlotte, North Carolina and
select other markets.
For more information
on TIER REIT, please visit www.tierreit.com
or call 979.931.4300.
Ivanhoé Cambridge is a world-class real estate company that
leverages its high-level expertise in all aspects of real estate including
investment, development, asset management, leasing and operations, to deliver
an optimal return for its investors.
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| Mark Katz |
Through its multiple subsidiaries, its assets in more than
20 countries are valued at more than Cdn$35 billion as at December 31,
2012. Ivanhoé Cambridge is a real
estate subsidiary of the Caisse de dépôt et placement du Québec, one of
Canada's leading institutional fund managers.
www.ivanhoecambridge.com.
Callahan Capital Properties (“CCP”) is a real estate
investment firm focused on acquiring high quality office properties throughout
the United States and leveraging substantial experience and expertise in asset management
to enhance value.
In December 2012,
Ivanhoe Cambridge - selected CCP to join forces in the development of its U.S.
office real estate platform and the management of its expanding office
portfolio in major gateway markets.
Since joining forces Ivanhoé Cambridge and CCP have acquired
over 5.0 million square feet of Class A office properties in New York, Chicago
and Seattle. . www.callahancp.com.
For a complete copy of the company’s news release, please
contact:
Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873
| www.hfflp.com
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