The building is owned by Fremont Realty Capital, real estate entrepreneur Mark Karasick and Shorenstein Properties LLC. The partnership acquired the 1.3-million-sf tower, which has 350,000 sf of office space, in 2006 for $292 million, a source says.

Dan Maslauski and Jack Keenan, both with Staubach Co., represented Hewitt Associates. Brian Whiting, senior vice president with JF McKinney, represented building ownership. The human resources outsourcing and consulting services firm relocated within the 65-story tower because they could not expand to contiguous space on the 21st floor, where they had been leasing 22,135 sf, says Maslauski. The firm relocated to the entire 14th floor with some space on the 15th floor. "They just were in the need of a complete upgrade of their space to more modern, open and efficient standards," he says.

The tower is approximately 85% occupied, Whiting says. Major tenants include Duff & Phelps LLC, an investment banking firm, and Freeborn & Peters LLP, which is the largest tenant in the building with 124,000 sf, Whiting says. The asking lease rate for the building is between $18 per sf and $30 per sf, net.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM Digital Member, you’ll receive:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.