EQC Continues to Cull Non-Core Office


Network with the nation’s top CRE dealmakers at RealShare APARTMENTS in Los Angeles on Oct 21-22,RealShare INDUSTRIAL in Atlanta on Nov 3-4, RealShare NEW LEASE WEST in Los Angeles on Nov 11-12 andRealShare HEALTHCARE REAL ESTATE in Scottsdale, AZ on Dec 2-3.

The Illinois Center in Chicago traded at a 5% cap rate.

CHICAGO—Continuing the culling process implemented by chairman Sam Zell, Equity Commonwealth said Monday afternoon it had completed three more sales worth a combined $261 million. The Chicago-based REIT also completed a two-building portfolio sale last month on its home turf that was worth a combined $376 million, according to industry reports.

EQC did not identify the buyers in the three separate deals, which involved office properties in upstate New York, the United Healthcare Center in Hartford, CT and One Franklin Plaza in Philadelphia. Largest of the deals by square footage was the 11-property portfolio in the Rochester, NY and Syracuse, NY metro areas, totaling two million square feet. It was 79.8% leased as of June 30, and traded for $104.6 million…

EQC Continues to Cull Non-Core Office

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