IN THE THIRD QUARTER, MEPT ACQUIRED 200 WEST MADISON, A 928,040 SQUARE FOOT, CLASS A OFFICE BUILDING IN CHICAGO’S WEST LOOP NEIGHBORHOOD, FOR A TOTAL PRICE OF $217.5 MILLION
The acquisition helps MEPT achieve its strategic objective of increasing the Fund’s allocation to central business district offi ce assets as it reduces its suburban offi ce weighting. Th e 45-story building has excellent access to public transportation; is a short walk to restaurants...

IN SEPTEMBER, MEPT ACQUIRED PENN MAR SHOPPING CENTER FOR A GROSS PURCHASE PRICE OF $60.2 MILLION
Penn Mar Shopping Center, a 387,028 square foot grocery-anchored center, is located in a densely populated submarket of Washington, D.C., which has solid demographics. Th e retail asset is 95 percent leased to a mix of discount and convenience retailers. Anchored by Shoppers Food & Pharmacy, Penn Mar Shopping Center’s other retailers include Burlington Coat Factory, Dollar Tree, Staples, Party City and Petco...

MEPT ACQUIRED ENSO PEARL DISTRICT IN PORTLAND, OREGON DURING THE QUARTER FOR A GROSS PURCHASE PRICE OF $55.5 MILLION
The acquisition of Enso Pearl District furthers MEPT’s strategic plan to acquire transit-oriented, multi-family assets in urban, infi ll locations that are attractive to the “Echo Boom” population. Enso Pearl District’s unit mix is weighted to studio and one-bedroom units, which fi ts well with this demographic...


MEPT Pays $218M for Chicago's 200 W. Madison
Multi-Employer Property Trust has purchased of 200 W. Madison, a 928,040-square-foot class A office building in Chicago's West Loop neighborhood, for $217.5 million…

BVT Sells 10 Southeast Centers
BVT Management Service Inc. finalized the sale of an 842,255 square foot retail portfolio to Multi-Employer Property Trust, a $4.7 billion real estate equity fund…

Deluxe Media Leases 229,000 SF for Logistics
Deluxe Media Management has leased a 229,450-square-foot industrial building at Vista Business Park in Valencia here from Multi-Employer Property Trust in what is believed to be the largest industrial building lease in the Santa Clarita/San Fernando Valley area this year.

In 2002, MEPT acquired sought-after land in downtown Washington, DC, located in close proximity to the Senate and Congressional buildings, transit hubs, and numerous hotels/restaurants in order to develop an office complex. The Patriots Plaza Complex was designed as a one million square foot, three building office complex, built with post-September 11 security features, including enhanced setbacks, blast-resistant windows and reinforced structural elements, which would make the buildings more desirable to potential government tenants in the DC market. MEPT completed Patriots Plaza I, a 280,001 square foot, twelve-story office building, in 2005. After completion, the building successfully attracted interest from the General Services Administration, and is now 100 percent leased to a number of government tenants including the US Department of Health and Human Services and the Federal Emergency Management Agency (FEMA). Based on the success of the Phase I, in 2007, MEPT commenced with Patriots Plaza Phase II and III, encompassing 701,589 square feet in two buildings. MEPT generated over 4.6 million job hours for members of the local Building Trades on the shell-complete construction of the three phases. In addition to the post-9/11 security features, MEPT developed Phase II and III to LEED-Silver® standards. In the fourth quarter of 2009, Patriots Plaza II and III were shell complete and MEPT signed the largest lease of 2009 in Washington DC at Patriots Plaza III. The US Department of Agriculture (USDA) agreed to a long-term lease for 330,000 square feet. Both assets with their appealing location, post-9/11 security features, and energy-efficient design should continue to attract other tenants looking for modern, Class A, LEED-certified office space in the Washington, DC market.