The 15 best US Office Deals Inked in the Last Five Years

October 10, 2017
Written by Admin TOA
Published in Reports

Sales of Russell Investments Center, left, One Kendall Square, back, and 550 Madison Avenue, left, brought in largest resale gains over the past five years.

(Joe Mabel, left/Citizen59, right/Nick Allen, back) Sales of Russell Investments Center, left, One Kendall Square, back, and 550 Madison Avenue, left, brought in largest resale gains over the past five years.

Who made the most in commercial U.S. office deals over the last five years? According to data by Yardi Matrix, which focused on buildings sold between 2012 and 2017 and were held for up to three years, here are the deals that made the most in resale gains since 2012.

1
Russell Investments Center
Seattle
Purchase date: 2009
Resale date: 2012
Resale gain: $325,000,000
Seller: Northwestern Mutual Real Estate Investors
Changes prior to sale: underwent cosmetic renovation

2
One Kendall Square
Cambridge
Purchase date: 2014
Resale date: 2016
Resale gain: $306,000,000
Seller: DivcoWest
Changes prior to sale: underwent cosmetic renovation

3
550 Madison Avenue
New York
Purchase date: 2013
Resale date: 2016
Resale gain: $300,000,000
Seller: Chetrit Group

4
222 Broadway
New York
Purchase date: 2012
Resale date: 2014 (majority stake deal)
Resale gain: $272,000,000
Seller: Beacon Capital Partners + L&L Company

5
530 Fifth Avenue
New York
Purchase date: 2012
Resale date: 2014
Resale gain: $185,000,000
Seller: Rockwood Capital + Murray Hill Properties + Jamestown + Chera family’s Crown Acquisitions
Changes prior to sale: underwent cosmetic renovation

6
4 New York Plaza
New York
Purchase date: 2010
Resale date: 2012
Resale gain: $163,000,000
Seller: Harbor Group International

7
575 Lexington Avenue
New York
Purchase date: 2012
Resale date: 2015
Resale gain: $142,258,743
Seller: Normandy Real Estate Partners
Changes prior to sale: underwent cosmetic renovation

8
1440 Broadway
New York
Purchase date: 2013 (majority stake deal)
Resale date: 2013
Resale gain: $140,567,120
Seller: Rockpoint Group

9
245 First Street
Cambridge
Purchase date: 2013
Resale date: 2016
Resale gain: $118,650,000
Seller: Jamestown

10
Michelson
Irvine
Purchase date: 2009
Resale date: 2012
Resale gain: $117,000,000
Seller: Emmes

11
One South Wacker
Chicago
Purchase date: 2012
Resale date: 2015
Resale gain: $116,000,000
Seller: Harbor Group International + Clal Group
Changes prior to sale: underwent cosmetic renovation

12
123 William Street
New York
Purchase date: 2013
Resale date: 2015
Resale gain: $111,318,112
Seller: East End Capital
Changes prior to sale: underwent cosmetic renovation

13
80 West End Avenue
New York
Purchase date: 2013
Resale date: 2014
Resale gain: $110,650,000
Seller: Extell Development/Ring + Kushner Companies

14
21 Penn Plaza
New York
Purchase date: 2011
Resale date: 2014
Resale gain: $104,644,050
Seller: Savanna + Feil Organization
Changes prior to sale: underwent cosmetic renovation

15
200 South Wacker Drive
Chicago
Purchase date: 2011 (majority stake deal)
Resale date: 2013
Resale gain: $98,275,000
Seller: Pearlmark Real Estate + Equity Group Investment + TIER REIT
Changes prior to sale: underwent cosmetic renovation