CHICAGO — CBRE Global Investors’ U.S. Managed Accounts Group has acquired 161 N. Clark St., a 49-story office building in Chicago, on behalf of a consortium of Korean investors led by the South Korean Postal Service. The tower sold for approximately $348 million, according to Crain’s Chicago Business. Speyer sold the 1.1 million-square-foot, trophy-quality building, which is located in the Central Loop submarket of downtown Chicago. The U.S. Managed Accounts team plans to implement a $14 million capital improvement campaign to upgrade existing amenities and building systems and to maintain the property’s existing LEED Silver certification. The property is 93 percent leased to a diverse roster of tenants with limited rollover. Vic Bucchere, Gary Jaye and Brian Cosentino of CBRE represented the buyer in the transaction.
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