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.
