2013-03-06 22:32:08 -
March 6, 2013
SAN FRANCISCO, CA - HFF announced today that it has closed the sale of 100 Spear
Street, a Class A office tower totaling 203,071 square feet in San Francisco,
California.
HFF marketed the property on behalf of the seller, Clarion Partners. Prudential
Real Estate Investors purchased the property for $100 million.
Originally developed by HKS in 1984, the 21-story tower is LEED Gold certified
and is 91.5 percent leased to 41 tenants, including several high-profile
professional service and technology companies. Since 2009, more than $4.5
million has been invested into the property including a substantial lobby
renovation, fire-life-safety system upgrades and modernization of the elevator
systems. The building is located at the intersection of Market Street in San
Francisco's South Financial District, one block from the future Transbay Transit
Center,
which will be the largest transportation hub ever built on the West
Coast.
The HFF investment sales team representing the seller was led by senior managing
directors Gerry Rohm and Michael Leggett and director Dave Karol.
Clarion Partners has been a leading U.S. real estate investment manager for more
than 30 years. Headquartered in New York, the firm has offices in major markets
throughout the U.S., in Sao Paulo, Brazil and London, England as well as a
presence in Mexico. With more than $27 billion in total assets under
management, Clarion Partners offers a broad range of real estate strategies
across the risk/return spectrum to its more than 200 domestic and international
institutional investors. More information about the firm is available at
www.clarionpartners.com.
PREI is a leader in the global real estate investment management business,
offering a broad range of investment vehicles that invest in private and public
market opportunities in the United States, Europe, the Middle East, Asia,
Australia and Latin America. Headquartered in Madison, N.J., PREI has other
offices in Atlanta, Chicago, Miami, New York, San Francisco, London, Lisbon,
Luxembourg, Munich, Paris, Istanbul, Abu Dhabi, Mexico City, Rio de Janeiro, Sao
Paulo, Beijing, Hong Kong, Seoul, Singapore and Tokyo. In addition, PREI has
representatives in Milan and is establishing a presence in Sydney (pending
regulatory approval). As of September 30, 2012, PREI managed approximately
$51.2 billion in gross real estate assets ($34.6 billion net) on behalf of more
than 490 clients worldwide. For more information, visit
www.prei.com.
HFF (Holliday Fenoglio Fowler, L.P.) and HFFS (HFF Securities L.P.) are owned by
HFF, Inc. (NYSE: HF). HFF operates out of 21 offices nationwide and is a
leading provider of commercial real estate and capital markets services to the
U.S. commercial real estate industry. HFF together with its affiliate HFFS offer
clients a fully integrated national capital markets platform including debt
placement, investment sales, advisory services, equity placement, loan sales,
and commercial loan servicing. www.hfflp.com.
Holliday Fenoglio Fowler, L.P., acting by and through Holliday GP Corp., a real
estate broker licensed with the California Department of Real Estate, License
Number 01385740.
Contacts:
GERRY ROHM
CA. Lic. #01367742
HFF Managing Director
(415) 276-6300
grohm@hfflp.com
KRISTEN MURPHY
HFF Associate Director, Marketing
(713) 852-3500
krmurphy@hfflp.com
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originality of the information contained therein.
Source: HFF, Inc. via Thomson Reuters ONE
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