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Golub Partnership Closes Burnham Center Deal
Golub & Company finalized its acquisition of Burnham Center at 111 W. Washington in the Loop in a joint venture with The Family Office Company B.S.C. The seller is a venture of Bryn Mawr, PA-based Alliance Partners HSP.
Currently known as the Chicago headquarters of GrubHub, the 585,000-square-foot tower was the last building designed by Daniel Burnham. The purchase price wasn’t disclosed; Crain’s Chicago Business earlier reported that it represented a discount on the $100 million that Alliance was seeking.
“As more companies relocate to or expand their presence in downtown Chicago, Burnham Center’s ideal central Loop location and design legacy contribute to its enduring appeal,” said Golub CEO Michael Newman. Golub will also assume management and leasing.
Golub’s acquisition team was led by Adam Short and Ania Najder. Alliance’s Peter Derrico negotiated on behalf of the seller who was represented by Cushman & Wakefield. Financing was provided by CIT.
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