EQ Office is a

real estate investment Real may refer to: Currencies * Argentine real * Brazilian real (R$) * Central American Republic real * Mexican real * Portuguese real * Spanish real * Spanish colonial real Nature and science * Reality, the state of things as they exist, rath ...

company A company, abbreviated as co., is a Legal personality, legal entity representing an association of legal people, whether Natural person, natural, Juridical person, juridical or a mixture of both, with a specific objective. Company members ...

that owns 80

office An office is a space where the employees of an organization perform Business administration, administrative Work (human activity), work in order to support and realize the various goals of the organization. The word "office" may also denote a po ...

properties comprising 40 million square feet. The company is owned by and funds managed by

The Blackstone Group Blackstone Inc. is an American alternative investment management company based in New York City. It was founded in 1985 as a mergers and acquisitions firm by Peter G. Peterson, Peter Peterson and Stephen A. Schwarzman, Stephen Schwarzman, who h ...

. The company was formerly known as Equity Office.

History

The company was founded in 1976 by Sam Zell. In 1997, the company acquired Lakeside Square in North Dallas for $60 million. In 2003, the company gained control of the

San Francisco Ferry Building The San Francisco Ferry Building is a terminal station, terminal for ferry, ferries that travel across the San Francisco Bay, a food hall and an office building. It is located on Embarcadero (San Francisco), The Embarcadero in San Francisco, Ca ...

. In 2005, the company sold 5 buildings in San Francisco for $400 million. The company also acquired a portfolio in

California California () is a U.S. state, state in the Western United States that lies on the West Coast of the United States, Pacific Coast. It borders Oregon to the north, Nevada and Arizona to the east, and shares Mexico–United States border, an ...

for $263 million. In 2006, the company acquired Pointe O'Hare I, an office building near

O'Hare International Airport Chicago O'Hare International Airport is the primary international airport serving Chicago, Illinois, United States, located on the city's Northwest Side, approximately northwest of the Chicago Loop, Loop business district. The airport is ope ...

for $59 million and a property in

Boca Raton, Florida Boca Raton ( ; ) is a city in Palm Beach County, Florida, United States. The population was 97,422 in the 2020 United States census, 2020 census and it ranked as the 23rd-largest city in Florida in 2022. Many people with a Boca Raton Address, ...

for $29.5 million. The company also acquired half-interest in two Miami office buildings for $249.8 million. In February 2007, after a bidding war with

Vornado Realty Trust Vornado Realty Trust is an American real estate investment trust formed in Maryland in 1982, with its primary office in New York City. The company invests in office buildings and street retail in Manhattan. History Two Guys The origins of the ...

, funds managed by

completed the acquisition of the company for $39 billion and sold 8 buildings to affiliates of Harry Macklowe for $7 billion. In April 2007, the company sold its portfolio in

Washington, D.C. Washington, D.C., formally the District of Columbia and commonly known as Washington or D.C., is the capital city and federal district of the United States. The city is on the Potomac River, across from Virginia, and shares land borders with ...

to Beacon Capital Partners for $6.5 billion. Later in 2013, the company acquired the Hughes Center, an office and retail development in

Las Vegas Las Vegas, colloquially referred to as Vegas, is the most populous city in the U.S. state of Nevada and the county seat of Clark County. The Las Vegas Valley metropolitan area is the largest within the greater Mojave Desert, and second-l ...

, for $347 million. In January 2014, the company sold 1-3 Center Plaza in Boston to Shorenstein Properties for $307 million. In April 2014, the company sold 28 State Street for $345 million. In December 2014, the company sold its portfolio in

Silicon Valley Silicon Valley is a region in Northern California that is a global center for high technology and innovation. Located in the southern part of the San Francisco Bay Area, it corresponds roughly to the geographical area of the Santa Clara Valley ...

to Hudson Pacific Properties for $3.5 billion. In 2015, the company acquired the

Willis Tower The Willis Tower, formerly and still commonly referred to as the Sears Tower, is a 110-storey, story, skyscraper in the Chicago Loop, Loop community area of Chicago in Illinois, United States. Designed by architect Bruce Graham and engineer F ...

for $1.3 billion. In 2017, the company sold a property in

San Jose, California San Jose, officially the City of San José ( ; ), is a cultural, commercial, and political center within Silicon Valley and the San Francisco Bay Area. With a city population of 997,368 and a metropolitan area population of 1.95 million, it is ...

for $82 million. The company also sold a two-building medical office campus in

San Diego, California San Diego ( , ) is a city on the Pacific coast of Southern California, adjacent to the Mexico–United States border. With a population of over 1.4 million, it is the List of United States cities by population, eighth-most populous city in t ...

for $97 million. In June 2018, the company changed its name from Equity Office to EQ Office. In 2019, the company purchased Seattle office buildings U.S. Bank Center and Docusign Tower for $1.2 billion.

Investments

Notable properties owned by the company are as follows: *

100 Summer Street 100 Summer Street is a high-rise building located in downtown Boston, Massachusetts. The building stands at with 32 floors, over 1.03 million square feet (over 92,000 m2) of office space, and was completed in 1974. It is ranked 31st on the ...

1740 Broadway 1740 Broadway (formerly the MONY Building or Mutual of New York Building) is a 26-story building on the east side of Broadway (Manhattan), Broadway, between 55th Street (Manhattan), 55th and 56th Street (Manhattan), 56th Streets, in the Midtown ...

* 350 North Orleans * Docusign Tower *

* U.S. Bank Center (Seattle) * Wells Fargo Center (Minneapolis) *

References

{{Blackstone Companies Companies based in Chicago Privately held companies based in Illinois Blackstone Inc. companies Real estate companies of the United States 2007 mergers and acquisitions 1976 establishments in Illinois Real estate companies established in 1976