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GE Pension Trust Buys 200 W. Monroe for $115M

CHICAGO-The 23-story building is next to another GE owned property at 230 W. Monroe.

By Gina Kenny | Updated on October 03, 2007

CHICAGO-An affiliate of General Electric Pension Trust, based in Fairfield, CT, has acquired 200 W. Monroe St. from a joint venture with an opportunity fund for the John Buck Co., based here, and San Francisco-based McMorgan & Co. The sales price was $115 million, says Paul Heinen, principal with the John Buck Co. “They were able to acquire it for still-below replacement cost for a building of this type,” he says.

A cap rate was not disclosed. Buck was represented in the transaction by Brian Nagle, with Cushman & Wakefield. A cap rate was not disclosed. MB Real Estate will be the manager and leasing agent for the building.

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