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Beacon Completes $100M Purchase

CHICAGO—The Florida firm has now acquired four office buildings in the metro area in the last six months.

By Brian J. Rogal | Updated on May 19, 2014

CHICAGO—Beacon Investment Properties, LLC has just completed its $100 million purchase of 200 W. Monroe, a 23-story class A office tower in Chicago, from Monroe Acquisition, LLC. The purchase was part of a joint venture with Harel Insurance, Investments and Financial Services Ltd., of Tel Aviv.

Officials from the Florida-based Beacon say they purchased the 535,911-square-foot high-rise as a value-add investment opportunity. Rents in the 91% leased building are below market, and planned property enhancements, coupled with strong demand for flex space in the submarket, should spur occupancy and rent growth.

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