CHICAGO—In many ways the city's West Loop submarket and its new, sparkling trophy towers overshadows the city's East Loop. But the addition of thousands of new residences, as well as new amenities, to the latter neighborhood should turn the heads of both office users and investors. And Franklin Street Properties believes it can now sell its 303 E. Wacker, an 861,000-square-foot East Loop office tower along the riverfront.
The company has brought on a team of experts from JLL to market the property, which it bought in 2007. Bruce Miller, international director, and Nooshin Felsenthal, managing director, are leading the JLL capital markets team handling the assignment.
“It's a perfect value-add deal,” Felsenthal tells GlobeSt.com. The team has already seen interest from a plethora of value-add investors, both national and global, “many of whom have already invested in Chicago.”
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
