Tuesday, November 20, 2012

Aon Hewitt Property Outside Chicago Trades for $148M

National Commercial Real Estate News From CoStar Group

Aon Hewitt Property Outside Chicago Trades for $148M

Retail Properties of America Inc. (NYSE: RPAI), a shopping center REIT, completed its trade of the Aon Hewitt Property in Lincolnshire, IL, to an undisclosed buyer for $148 million, or approximately $181 per square foot. Earnings from the sale were used to pay off $117.7 million of mortgage debt and accrued interest encumbering the entire Aon Hewitt Campus.

Aon Corp. fully occupies the six-story, 818,686-square-foot office building at 4 Overlook...

Live From REITWorld: Pace of Mergers and IPOs Likely to Accelerate in 2013

For all the election season bickering over the pace of the economic recovery during the last four years, this year’s gathering of REIT executives was a decidedly happier and more agreeable place than in 2008 when the REIT industry trade show last met in San Diego.

Back then, attendees were agonizing over whether real estate investment trusts could even survive, let alone thrive, amid the frozen credit flows, plunging stock prices and near collapse...

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