Equity Office Properties Trust, the largest office owner in the nation, plans to market as much as $3.5 billion of assets for sale through the end of next year. EOP announced earlier this summer plans to sell as much as $2.5 billion in office properties, but an Aug. 24 announcement shows that even more assets will be included in that disposition campaign.
EOP plans to reduce the size of its Chicago, Denver and Northern California portfolios. Other core markets, which EOP declined to name, could see dispositions as well. Richard Kincaid, CEO at EOP, said in a written statement that “strong demand for office assets at very attractive pricing” led the firm to put more properties up for sale.
“As a result, we have increased our pipeline and extended the timeframe of our previously planned dispositions. We will continue to leverage market conditions, and our level of sales may fluctuate in response to changing opportunities,” added Kincaid.