HFF, Inc. : HFF closes $100 million sale of Class A office tower in San
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
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
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
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.
CA. Lic. #01367742
HFF Managing Director
HFF Associate Director, Marketing
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applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of
information contained therein.
Source: HFF, Inc. via Thomson Reuters ONE
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