The Atlanta-based company is working with a financial adviser on the potential sale. Other logistics firms and investment funds have expressed preliminary interest in acquiring the business.
Unibail Rodamco Westfield and Hammerson Plc reported earnings that rebounded in the first half of the year as the impact of the pandemic subsided more quickly than expected.
The company will buy the James R. Thompson Center, a 17-story building that occupies a full city block in the central Loop district and was designed in the early 1980s by architect Helmut Jahn. The deal is valued at $105 million, before renovation.
As the larger tech sector has experienced a valuation reset, venture capital investors in proptech are taking a much more careful stance, wanting to see a clear path to profits.
How one private equity real estate firm is trying to bring flexible industrial facilities to the market in U.S. cities with its Portal Warehousing offering.
Businesses ranging from Pfizer Inc. to Silvercup Studios will fund the Homeless Assistance Fund that will provide services to people living on the streets or experiencing mental illness.