Agave Holdings Acquires 300 South Wacker Drive Office Tower In Chicago For $96.5M

Agave Holdings, the real estate investment firm of Jose Cuervo's Beckmann family, has acquired a 35-story office tower located at 300 South Wacker Drive in downtown Chicago. The property was purchased from Golub and Alcion Ventures for approximately $96.5 million. The office tower spans a total area of 535,000 square feet, resulting in a price per square foot of $180.

Summary of Transaction Details:

• Property Type: Office
• Transaction Amount: $96,500,000 (Approx.)
• Address: 300 South Wacker Drive
• Market: Chicago
• Buyer: Agave Holdings - Jose Cuervo - Juan Beckmann
• Seller: Golub & Alcion Ventures
• Lender: Deutsche Bank

The acquisition of this office tower by Agave Holdings marks their strategic move in the struggling commercial real estate market in the Chicago area. Despite challenges posed by remote-work trends, the property's proximity to upgraded or newly constructed office towers presents potential opportunities for the buyer. The transaction signifies Agave Holdings' confidence in the long-term value of this prime office space.