Behringer Harvard this week announced it has completed the purchase of four office properties located in the central business district of Chicago, Ill., for an undisclosed price.
The portfolio consists of the following: One Financial Place, located in the city’s South Loop; and 10 South Riverside Plaza, 120 South Riverside Plaza and 200 South Wacker Drive, all of which are located in the West Loop.
One Financial Place offers approximately 1 million square feet of rentable space in a 39-story tower. The property houses the Chicago Stock Exchange, as well as Goldman Sachs, Morgan Stanley, Merrill Lynch and Man Financial.
The 10 and 120 South Riverside Plaza complex is comprised of twin 21-story, high-rise office buildings totaling approximately 1.4 million square feet of office and retail space. Tenants of 10 South Riverside are Zurich American; Blackman, Kallick, Bartelstein; DRW Investments; and Ennis Knupp. Tenants of 120 South Riverside are CDW, Arnstein & Lehr, Welsch & Katz, and TransUnion.
The final property, 200 South Wacker Drive, is a 40-story office tower located at Wacker Drive and Adams Street. Renovated this year, the property contains approximately 750,000 square feet of rentable space. Tenants include Boston Consulting Group, Orbitz.com, and B.C. Ziegler.
Behringer Harvard REIT I, Inc. acquired the portfolio from affiliates of Boston-based Beacon Capital Partners. The deal adds approximately 3.2 million square feet of rentable office space to Behringer Harvard’s Chicago holdings, which will now total approximately 4.4 million square feet.
