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Key Points
Hines is in early talks to acquire Boeing’s former 36-story headquarters at 100 North Riverside Plaza, stepping in after Sterling Bay's deal for the tower collapsed.
The transaction is complicated because Boeing is only selling the building's leasehold interest, while the land is owned separately by the Stahl Organization under a ground lease running until 2084.
Hines may attempt to partner with Stahl or buy the land to simplify financing, as the developer would otherwise need to cover escalating ground-lease payments on top of building operations and upgrades.