LaSalle acquires Blackhawk on Halsted in Chicago
CHICAGO (May 4, 2016) – LaSalle announced it has acquired Blackhawk on Halsted (“Blackhawk”) in Chicago from Structured Development on behalf of client Bayerische Ärzteversorgung (BÄV - Bavarian doctors’ pension fund), one of the twelve pension institutions of BVK (the Bavarian umbrella pension scheme for self-employed professionals - including doctors, lawyers and architects).
Located in the highly-desirable North & Clybourn retail corridor within Chicago’s Lincoln Park neighborhood at the intersection of Halsted Street and Blackhawk Street, the best-in-class 225,000 square-foot, mixed-used project is 98 percent leased and consists of a four-story building featuring an assortment of leading medical office and retail tenants, a five-story single-tenant building that is home to one of the City’s top private day schools (British International School of Chicago), and a seven-story, 534-stall parking garage. Built in 2009, the LEED Silver property offers its tenants exceptional exposure and visibility, benefits from great access to both parking and mass transit, and is well located within immediate walking distance to a dense and eclectic variety of national retailers, restaurants and entertainment venues.
“Blackhawk is a prototypical urban, mixed-use asset that offers the type of characteristics we’re targeting for many of our clients,” said David Schreiber, Managing Director of Acquisitions at LaSalle. “The Property has attracted a strong complementary mix of health care, education and retail users that are a perfect fit for the demographics driving growth in this corridor, and has the added appeal of accommodating industries that tend to demonstrate high retention and low volatility through all market cycles.”
About LaSalle Investment Management
LaSalle Investment Management, Inc. (together with its global investment advisory affiliates, “LaSalle”) is one of the world’s leading real estate investment managers. LaSalle on a global basis manages approximately $58 billion as of Q4 2017 of private and public equity and private debt investments. LaSalle’s diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. LaSalle sponsors a complete range of investment vehicles including separate accounts, open- and closed-end funds, public securities and entity-level investments. LaSalle Investment Management, Inc. is a wholly-owned, operationally independent subsidiary of Jones Lang LaSalle Incorporated (NYSE: JLL), one of the world’s largest real estate companies. For more information please visit www.lasalle.com.
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