CHICAGO-Trizec Properties Inc. continues to balk at suggestions it should hang a “for sale” sign from the 110-story Sears Tower. However, president and CEO Timothy H. Callahan opened that door a bit Thursday.
“We're not ready to make that decision yet, but that doesn't mean we won't do so at some point in time,” Callahan says during an earnings conference call. “It's still premature to go into that discussion.”
Trizec Properties Inc., which has managed the tallest building in North America, was scheduled to take title to the building Jan. 2 by converting its second-mortgage into an ownership position by assuming a first mortgage held by Metropolitan Life. However, necessary paperwork remains slow in coming from a Sears Roebuck & Co. subsidiary.
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