Manulife Financial, one of the nation’s largest life insurance companies, has purchased a 732,000-square-foot office building in downtown Chicago.

The value of the transaction was $222 million.

National Office Partners Limited Partnership, a partnership of the California Public Employees’ Retirement System (CalPERS) and Hines, an international real estate firm, sold the property.

The 37-story property is located at 191 North Wacker Drive in the Central Business District’s West Loop.

Developed by Hines in January 2003, 191 North Wacker was 90 percent leased at the time of sale with a tenant base that includes: Gardner Carton & Douglas LLP; Much Shelist Freed Denenberg Ament & Rubenstein, P.C.; Watson Wyatt Worldwide; Heitman Financial; and RSM McGladrey.

Cushman & Wakefield represented NOP in the transaction.

***

What’s your opinion? Send your Letter to the Editor to newsroom@inman.com.

Show Comments Hide Comments
Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
Only 3 days left to register for Inman Connect Las Vegas before prices go up! Don't miss the premier event for real estate pros.Register Now ×
Limited Time Offer: Get 1 year of Inman Select for $199SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription
×