American Re negotiated a 10-and-a-half-year deal with landlord Market Front Associates Limited Partnership for an 18,605-sf space at One Front St., a 36-story office tower on the northwest corner of Market and Front streets. The insurance company, which is relocating from 101 California St., will take up the entire 29th floor of the building.
Cushman & Wakefield's Mitchell J. Barnett, Stephen F. Baker, and Tom McDonnell, represented American Re, while Meade Boutwell and Christopher T. Roeder, also of Cushman & Wakefield, represented Market Front Associates Limited Partnership in the deal.
"American Re was attracted to One Front because of its unique combination of efficient floor plates, attractive lease terms and dramatic views from the 29th floor. The company prioritized this well located, class-A building," says McDonnell.
The rental rate was not revealed for this transaction, but recent research shows that the average rental rate for Class A buildings in the downtown area ranges from $40 to $50 psf.
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