Jewel-Osco’s Headquarters Sells for Nearly 24 Million Dollars
CHICAGO, IL - Hamilton Partners has purchased Jewel-Osco’s headquarters for $23.7 million, which is approximately $128 per square foot.
Chicago Real Estate Daily reports that Hamilton purchased the 185,020-square-foot office building from Bethesda, MD-Based pension fund adviser ASB Capital Management.
For now, one key question remains. Will Jewel-Osco be relocating?
The news of this sale comes as Jewel-Osco’s parent company, Albertsons, is continuing its merger with Safeway.
This merger has created uncertainty in real estate circles about Jewel-Osco’s plans for its headquarters. According to property records, the retailer signed an 11-year lease in 2008 when it moved into the location.
Though Hamilton declined to comment of the specifics of Jewel-Osco’s lease to Chicago Real Estate Daily, it did say, “we feel confident that Jewel is going to be a tenant in the building long-term.”
Stay tuned to AndNowUKnow as we follow all of the potential changes as the Safeway/Albertson’s merger continues.
