Midwest
JV Buys Office Building in Chicago’s West Loop
A joint venture has purchased 230 W. Monroe, a building in Chicago’s popular West Loop area. The building is the second of two similar Class B buildings to have been sold by the General Electric Pension Trust affiliate.
UA to Move HQ to Willis Tower, Space to Total Over 800 KSF
United Airlines will be moving into Chicago’s iconic Willis Tower in what is reported as the largest office lease transaction in the city’s history.
Lubert-Adler/Farbman JV Buys Office Building in Chicago’s West Loop for $75M
Lubert-Adler and The Farbman Group collaborated in the purchase of West Monroe, a Class B office property that is currently 80 percent occupied.
Calkain Cos. Opens St. Louis Office to Capture Midwest Market
Calkain Cos. has opened an office in St. Louis, viewing the Midwest as a largely underserved market. The company has tapped broker Teal Henderson from its Tampa office to run the new location.
Homewood Suites Introduces New Design Concept with Smaller Footprint
The 97-room hotel marks the debut of Homewood Suites’ new Generation 9 design prototype.
Motorola Successor to Take Nearly 600 KSF at Chicago’s Merchandise Mart
Motorola Mobility, which was purchased by Google barely two months ago, has signed a lease for 572,000 square feet at the iconic Merchandise Mart in Chicago, the company and property owner Vornado Realty Trust announced late last week.
NGKF Bolsters Midwest, Las Vegas Offices
Adding to the firm’s expertise in specialties tied to manufacturing and gaming positions Newmark Grubb Knight Frank for shifts in the economy, explained company president James Kuhn.
Blackstone Buys 15 Retail Centers from Regency for $321M
Regency Centers Corp. has agreed to sell 15 shopping centers in seven states to an affiliate of Blackstone Real Estate Partners VII for $321 million.
Brennan Investment Grabs National Industrial Portfolio for $155M
In a joint venture with London-based Gatehouse Bank plc, the private real estate investment firm acquired a national industrial portfolio from an affiliate of AIC Ventures.
M&R Development Adding 412 Luxury Units to Metro Chicago
In response to the growing demand for apartments in metropolitan Chicago, M&R Development has kicked off construction of two projects, Summit on Lake and Central Station, in the Chicago area.