The Merchandise Mart’s New York-based owner is eyeing a sale of the building, as Chicago’s office market continues to post record-high vacancies.
Steven Roth, chairman and CEO of Vornado Realty Trust, told investors Tuesday during a second quarter earnings call that the Mart and San Francisco’s former Bank of America Tower could both be sold “for the right deal at the right time.”
The pair of buildings are the largest assets Vornado owns outside of New York — and the Mart, spanning 3.7 million square feet over two city blocks, is the single-biggest property in the firm’s portfolio. “Both properties are iconic assets in signature cities,” according to Vornado’s website.
Roth said the real estate investment firm is not actively marketing the Mart or its San Francisco property.
“Those two