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Namdar, Mason Acquire One North LaSalle in Downtown Chicago
Namdar Realty Group and Mason Asset Management have completed the acquisition of One North LaSalle, a 493,738-square-foot office tower along Chicago’s LaSalle Street corridor, through a deed-in-lieu of foreclosure.
Andy DeMoss, senior managing director of downtown agency leasing at Bradford Allen, will continue to lead leasing efforts for the property. The transaction also continues a trend of investors ramping up activity in Chicago, where nine office properties sold for $120 million in the third quarter, according to Bradford Allen research.
“Taking ownership of One North LaSalle highlights our commitment to contributing positively to the Chicago real estate market,” said Elliot Nassim, president of Mason Asset Management. Completed in 1929 and once recognized as the city’s tallest structure, One North LaSalle was designated a Chicago landmark in 1996 and added to the National Register of Historic Places in 1999. Today, it boasts state-of-the-art amenities, including a fitness center, conference rooms and a tenant lounge.
