News
Daily Deal: Groupon HQ
September 12, 2011
| It was once a Mongomery Ward catalog warehouse, now it's the global HQ for Groupon. The River West building at 600 W Chicago (sold late last week to Commonwealth REIT for $390M) is one of a slew of buildings with interest from out-of-town investors. (If our inbox is any indication, a sale of LivingSocial's building will be right behind.) | ||
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| HFF's Jaime Fink and Jeff Bramson repped the seller, 600 W Chicago LLC. Jaime tells us that Maryland-based Commonwealth was looking for a stable investment to make improvements and drive rents and says other investors are looking at Chicago for similar reasons. The building joins UBS Tower, 70 W Madison, and 55 W Monroe as the latest in a string of sales to out-of-town or foreign investors. HFF had arranged financing for the 1.6M SF building in 2005 and Commonwealth took over the financing that was already in place. The building at 98% leased is also home to Level 3, Wrigley, Japonais, The Big Ten Network, and Dave Barton Gym. | ||
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