CHICAGO--(BUSINESS WIRE)--
Equity Commonwealth (NYSE: EQC) announced today that the company closed on the sale of two properties totaling 2.4 million square feet for $670 million.
On February 21, 2018, the company closed on the sale of its 99.2% leased, 1,571,000 square foot property at 600 West Chicago Avenue in Chicago, Illinois, for a gross sale price of $510 million. Proceeds after credits for capital, contractual lease costs, and rent abatement were approximately $488 million.
On February 14, 2018, the company closed on the sale of its 84.7% leased, 826,000 square foot property at 1600 Market Street in Philadelphia, Pennsylvania, for a gross sale price of $160 million. Proceeds after credits for capital, contractual lease costs, and rent abatements were approximately $157 million.
About Equity Commonwealth
Equity Commonwealth (NYSE: EQC) is a Chicago based, internally managed and self-advised real estate investment trust (REIT) with commercial office properties throughout the United States. As of February 21, 2018, EQC’s portfolio comprised 15 properties and 7.1 million square feet.
Regulation FD Disclosures
We intend to use any of the following to comply with our disclosure obligations under Regulation FD: press releases, SEC filings, public conference calls, or our website. We routinely post important information on our website at www.eqcre.com, including information that may be deemed to be material. We encourage investors and others interested in the company to monitor these distribution channels for material disclosures.
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