Centrum, Hubbard Street selling River North office building

Chicago /
Aug.August 08, 2018 02:05 PM

412 North Wells Street and Group’s John McLinden

Centrum Development and Hubbard Street Group are selling a 45,000-square-foot office building in River North that is fully occupied by the headquarters of protein-bar maker RXbar.

The asking price for the glass nine-story building at 412 North Wells Street is $30 million.

Chicago-based Centrum and Hubbard Street have hired JLL to market the building.

The brokerage said RXbar, bought by Kellogg’s last year while the building was under construction, has 10 more years left on its lease.

Building amenities include a 5,600-square-foot tenant lounge with roof deck, a test kitchen, fitness center and sun terrace. Two restaurants occupy the ground-floor retail space.

The building is close to Vornado Realty Trust’s Merchandise Mart and next door to the mixed-use building just bought by a venture tied to the family of hedge fund CEO Alec Litowitz.

Hubbard Street has a number of projects throughout the Chicago area, including the overhaul of a shopping center in suburban Oak Lawn and the residential portion of a massive mixed-use project on the Northwest Side.

Centrum has developed a number of notable projects around Chicago too, including Roosevelt Collection on the Near South Side, North Avenue Collection on the Near North Side and the home of Groupon’s headquarters at 600 West Chicago Avenue.


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