HGI completes Burnham Center sale for $94.63 million

According to Harbor Group International, LLC (HGI), an affiliate has completed the sale of The Burnham Center, a 22-story building in the downtown area for $94.63 million. HGI purchased the property in March of 2007 for $79.5 million. The sale comes less than a year after HGI signed a 60,000 s/f lease for GrubHub to move its headquarters to the property. "We are pleased that we were able to exit this historic property as the Chicago office market gains momentum," said Jordan Slone, chairman & CEO of HGI. "We remain committed to downtown Chicago and our pleased with our remaining portfolio of Class A assets, One South Wacker, 300 South Wacker and 2 North LaSalle. We believe our Chicago assets are well positioned to benefit from downtown's leasing upturn." About The Burnham Center: This office tower, located at 111 West Washington Street in Chicago's Central Business District, was built in 1914 and is one of Chicago's most architecturally significant buildings. Originally designed by the renowned architect Daniel H. Burnham in 1914, the Burnham Center is listed on the National Register of Historic Places. The 579,778 square foot building is located in Chicago's central business district. Its tenants enjoy the proximity to the city, county, state, and federal offices and courts which surround the building. Primary tenants include Flashpoint (102,387 square feet), Cook County (64,720 square feet) and GrubHub (59,469 square feet). This property is also convenient to the LaSalle Street Financial District, the major commuter train stations, and to an elevated train station which provides quick access to the entire downtown area. About Harbor Group International: Harbor Group International, LLC is a private real estate investment and management firm which controls a portfolio of worldwide assets valued at approximately $3.8 billion. HGI is headquartered in Norfolk, Virginia with offices in New York and Tel Aviv. The company's real estate holdings include more than 10.5 million square feet of commercial properties and in excess of 24,500 apartment units. For additional information, please visit www.harborgroupint.com.