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Illinois office campus trades for $78M; Investors Real Estate details sales

This feature rounds up recent commercial property news and highlights larger deal coverage already published.

* A partnership between Balfour Pacific Real Estate Fund IV and Hamilton Partners purchased One Pierce Place and 500 Park Blvd., a two-building, 976,000-square-foot suburban office campus in Itasca, Ill., from a partnership between Long Wharf Capital LLC and Hamilton Partners for $78.3 million.

* Investors Real Estate Trust sold an industrial property in Urbandale, Iowa, and another in Roseville, Minn., for $16.7 million and $18.7 million, respectively, and two multifamily properties in Rochester, Minn., for $6.7 million.

* Plaza Retail REIT closed its roughly C$3.3 million acquisition of a 50% stake in a retail property in Saguenay, Quebec, saying it plans to redevelop the property into a multi-unit retail plaza consisting of about 100,000 square feet of gross leasable area.

* Law firm Kirkland & Ellis signed a lease for 120,000 square feet of space at Boston Properties Inc.'s 601 Lexington Ave. in Midtown Manhattan, N.Y., on top of the 400,000 square feet it already occupies at the property, The Real Deal reported.

Additional coverage

Iron Mountain to acquire IO Data Centers' US ops for at least $1.3B

Hong Kong's Gaw Capital buys NYC hotel for US$323M

Report: World's tallest Holiday Inn could sell for more than $300M

Fibra Terrafina buys Mexican industrial portfolio for US$180M

Summit Industrial proceeding with C$72M acquisition of 10-property portfolio