ABB Lummus renews 155,000 square feet

Oil and gas engineering company ABB Lummus Global Inc. has renewed its 155,000-square-foot office lease in Bloomfield, N.J., for an undisclosed price.

The lease includes three buildings owned by Hampshire Partners Fund VI located at 1515 Broad St. The complex where the space is located also includes another building, which is partially leased to another tenant.  more...

Hines buys another Chicago high-rise

Hines U.S. Office Value Added Fund II L.P. (HVAF II) has acquired a 23-story, 600,000-square-foot office building in downtown Chicago for an undisclosed price.

The property, 101 North Wacker, is located in the city's West Loop submarket. Completed in 1980 and renovated in 1990, the property was 83 percent leased at the time of sale to tenants that included TTX Co., Hartmarx Corp., YMCA and The Segal Co.

According to a press statement, HVAF II plans to renovate the property in an attempt to "enhance the building's leasing profile."

Bascom grows in Orange County

The sale of the Harbor Terrace Apartment community in Santa Ana, Calif., closed this week, with a limited liability company shelling out approximately $15.8 million for the asset.

The Bascom Group LLC purchased property located at 1314 N. Harbor Blvd. from Donbev Prop II Ltd. The sales price represented $157,000 per unit.  more...