Behringer Harvard buys up city block in Chicago

Acquires nearly 1.2 million square feet

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Behringer Harvard REIT I Inc. this week announced its acquisition of 2.87-acre site in Chicago that includes 222 S. Riverside Plaza, a 35-story office tower, and 444 W. Jackson Blvd., an adjacent three-story building that's home to Union Station Multiplex, a full-service health and fitness club. The value of the transaction was not disclosed. The two buildings on the property cover an entire city block and total 1.18 million rentable square feet. The class A office tower was constructed in 1971 and renovated in 2001, has received upgrades exceeding $30 million over the past two years. Among the building's major tenants at the time of sale were Deutsche Bank, Fifth Third Bank and Trading Technologies. Union Station Multiplex, located in the adjacent building, offers a wide range of amenities including a conference center, concierge services, two full-size basketball courts and a junior Olympic lap pool. Behringer Harvard is an investment company that offers a diverse selection of rea...