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Tishman Speyer Properties’ purchase of a new Chicago office tower is the latest sign that the firm is going back to the basics as it emerges from one of the most devastating commercial real-estate cycles in decades.
Its purchase of 353 N. Clark St. for $385 million, an estimated $55 million less than it cost to build, also exposes the fault lines as well as the opportunities for investors and owners as the market recovers. Get the full story »
From Globe St. | Tishman Speyer has completed its purchase of a 1.2 million-square-foot office tower at 353 N. Clark for $385 million, about $35 million less than it cost seller Mesirow Financial to build the tower completed in October 2009. Mesirow had owed roughly $374 million from construction loans that were coming due. Get the full story>>
New York’s bedbugs don’t discriminate. They’ve infested dorm rooms as well as posh offices on Park Avenue, as Winston & Strawn discovered this week.
The Chicago-based law firm is dealing with an infestation of bedbugs at its New York office at 200 Park Ave., the MetLife Building. As of Friday morning, the landlord had not resolved the problem. Get the full story »
