Hines Real Estate Investment Trust Inc. announced Wednesday it has acquired 321 North Clark from a venture between an institutional investor advised by JPMorgan Chase and Hines.

The 35-story, 897,000-square-foot office building is located in Chicago’s central business district. Hines is the sponsor of Hines REIT, and is responsible for the management and leasing of its assets.

Designed by the Chicago office of Skidmore, Owings & Merrill, 321 North Clark was completed in 1987. The tower was approximately 94 percent leased at the time of sale to tenants including the American Bar Association, Foley & Lardner LLP and Mesirow Financial.

Hines REIT is a Houston-based public real estate investment trust sponsored by Hines. Hines REIT commenced operations in November 2004 and primarily invests in institutional-quality office properties located in the United States. Including this acquisition, Hines REIT currently owns interests in 17 office properties located in Chicago, Dallas, Houston, Miami, New York, Sacramento, San Diego, San Francisco, San Mateo, Seattle and Washington D.C.

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
Thank you for subscribing to Morning Headlines.
Back to top
Leaders from across the industry answered our call to come to Inman Connect and share essential advice for leveling up your 2021.SEE THE SPEAKERS×
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