SAN FRANCISCO-Those who follow @GlobeStcom on Twitter and @GlobeStLIVE may have seen a post teasing the announcement, but GlobeSt.com has learned that Clarion Partners LLC has completed the sale of 100 Spear St. The sale of the class A LEED Gold office tower in the heart of San Francisco's Central Business District was at just around $100 million.
“We have a very hands-on, pro-active management approach with respect to all of our portfolio properties,” explains Mark Weld, a managing director at Clarion Partners, in a prepared statement. “San Francisco in particular is a dynamic marketplace where we have recently aggressively executed on opportunities on both the buy and the sell side and expect to continue to do so.”
The San Francisco office of HFF, led by Gerry Rohm, Michael Leggett and David Karol, represented Clarion in the transaction. 100 Spear St. is located San Francisco's South Financial District, one block from the site of the future Transbay Transit Center, slated to be the largest transportation hub ever built on the West Coast.
According to a prepared statement, “the property's central location, outstanding views and functional floor plates have attracted a diverse range of tenants and occupancy of the 203,259-square-foot building currently stands at 91.5%. A recent modernization program renovated the main lobby, remodeled multi-tenant floors, upgraded the elevators and improved fire-life safety features.”
Clarion Partners did not respond to further inquiries before deadline including who the buyer was, but GlobeSt.com will update as more information becomes available.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
