{"id":1004379287,"date":"2020-01-03T05:47:42","date_gmt":"2020-01-03T13:47:42","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004379287"},"modified":"2020-01-03T08:05:33","modified_gmt":"2020-01-03T16:05:33","slug":"core-london-office-asset-trades-for-223m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/core-london-office-asset-trades-for-223m\/","title":{"rendered":"Core London Office Asset Trades for $223M"},"content":{"rendered":"
\"Five<\/a>

Five Acre Square. Image via Google Street View <\/em><\/p><\/div>\n

Northwood Investors has purchased Five Acre Square, a freehold office building in London\u2019s urban core. According to Property Week<\/em>, the asset changed hands for approximately $223 million. The 224,000-square-foot building was part of the Houndsditch Estate, a five-property portfolio that Madison International Realty has now fully exited. Despite the sale, Madison still has a large footprint in the European real estate market<\/a>.  <\/p>\n

Located at 133 Houndsditch St. in one of London\u2019s most coveted submarkets, Five Acre Square is within walking distance the Liverpool Street transport hub. Madison acquired the building in 2014 as part of a portfolio that also included Cutlers Court, 117-119 Houndsditch, 120 Houndsditch and Cutlers Exchange.<\/p>\n

The sale of Five Acre Square follows the completion of a capital improvement plan at the building. Together with partner Nuveen, the former owner repositioned the property as an institutional quality asset through the renovation of the lobby and public areas. Updates also included the addition of bike storage, lockers and showers. Moreover, the previously vacant fourth and fifth floors were occupied, bringing the 1991-built property to full occupancy.  <\/p>\n

According to Madison\u2019s London Office Managing Director Alex Lukesch, the asset presents a medium-term development opportunity to the buyer. CBRE advised the seller in the deal, while JLL worked on behalf of Northwood Investors.<\/p>\n","protected":false},"excerpt":{"rendered":"

Madison International Realty sold Five Acre Square, a 224,000-square-foot building in one of the metro\u2019s most sought-after submarkets. <\/p>\n","protected":false},"author":238,"featured_media":1004379296,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,16,21783,21742,21747],"tags":[32789,32796,33189,34258],"class_list":["post-1004379287","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-international","category-investment","category-latest","category-office","tag-cbre","tag-jll","tag-madison-international-realty","tag-northwood-investors"],"acf":[],"yoast_head":"\nCore London Office Asset Trades for $223M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/core-london-office-asset-trades-for-223m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Core London Office Asset Trades for $223M\" \/>\n<meta property=\"og:description\" content=\"Madison International Realty sold Five Acre Square, a 224,000-square-foot building in one of the metro\u2019s most sought-after submarkets.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/core-london-office-asset-trades-for-223m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2020-01-03T13:47:42+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-01-03T16:05:33+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/01\/Five-Acre-Square.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1232\" \/>\n\t<meta property=\"og:image:height\" content=\"924\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Laura Valean\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/core-london-office-asset-trades-for-223m\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/core-london-office-asset-trades-for-223m\\\/\"},\"author\":{\"name\":\"Laura Valean\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/2f8b737fce677cc406c08a2c29c1ff38\"},\"headline\":\"Core London Office Asset Trades for $223M\",\"datePublished\":\"2020-01-03T13:47:42+00:00\",\"dateModified\":\"2020-01-03T16:05:33+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/core-london-office-asset-trades-for-223m\\\/\"},\"wordCount\":236,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/core-london-office-asset-trades-for-223m\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2020\\\/01\\\/Five-Acre-Square.jpg\",\"keywords\":[\"CBRE\",\"JLL\",\"Madison International Realty\",\"Northwood Investors\"],\"articleSection\":[\"Deals\",\"International\",\"Investment\",\"News\",\"Office\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/core-london-office-asset-trades-for-223m\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/core-london-office-asset-trades-for-223m\\\/\",\"name\":\"Core London Office Asset Trades for $223M - 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