400,000-SF Office Tower Changes Hands

NEW YORK CITY-Tokyo-based Mitsui Fudosan America Inc. has closed on its purchase of 100 William St., a 400,000-sf class A office building here, for a reported $180 million from a locally based partnership led by West Hempstead-based Lighthouse Real Estate Ventures Inc. The seller had owned the property since 1999, when it, along with Cargill Financial Services, purchased the building from Taconic Investment Partners and Blackacre Capital Management LLC for $45 million.

Built in 1973, the 21-story office tower is currently more than 90% leased. Tenants include Reuters, Interactive Data Corp., Level 3 Communications and Citibank. Lighthouse Real Estate Ventures, Mitsui Fudosan and CB Richard Ellis, who marketed the property on behalf of Lighthouse Real Estate Ventures were unable to be reached for comment regarding further terms of the transaction by press deadline.

“100 William’s location within Downtown Manhattan perfectly complements our company’s long-term strategic presence in the New York market, while also affording the owners the opportunity to add value through a repositioning program,” notes Kosei Murakami, president and CEO of MFA, in a prepared statement. “Our strategy of acquiring quality assets in established but growing markets is reflected in this transaction, and has helped to enhance global competitiveness and profitability.” Murakami adds that 100 William St. is a stable, income-generating property that will benefit from repositioning and the resurgence of the Downtown market.”