Menashe Properties, a family-owned commercial real estate firm based in Portland, Oregon, has recently expanded its presence to the Midwest by acquiring 230 West Monroe. This 29-story office tower located in Chicago’s West Loop was purchased for $45 million, making it the largest commercial real estate sale in the city within the past year.
The sellers were exclusively advised by Bryan Rosenberg and David Caprile of Eastdil. The property had previously been sold for $122 million back in 2014.
Founder and principal of Menashe Properties Barry Menashe expressed excitement about entering the Chicago market with this acquisition. He stated that this exceptional office tower marks their sixth market presence alongside Portland, Vancouver, Seattle, Denver and Dallas.
CEO and principal Jordan Menashe also shared his enthusiasm for this deal due to Chicago’s thriving corporate investment landscape and strong return-to-office culture. He believes that their recent acquisitions demonstrate their ability to continue growing not only in existing markets but also new ones such as offices,r retail spaces,and industrial properties.
This news was originally published on Connect CRE.
