SAN FRANCISCO-Earlier this month, GlobeSt.com reported that New York City-based Clarion Partners LLC had sold 100 Spear St. The sale of the class A LEED Gold office tower in the heart of San Francisco's Central Business District was sold at just around $100 million.
In an update to that story, we now learn that Harvest Properties has been awarded the property management assignment for the 21-story, 203,000 square-foot building.
Newark, NJ-based Prudential Real Estate Investors was the buyer of the building, with whom Harvest Properties has worked on a number of commercial property transactions over the years, according to a prepared statement. Harvest Properties assumes management duties effective immediately.
“The 100 Spear Street address is sought-after for its flexible floor-plates, exceptional views and central location to transit and countless amenities,” explains John Winther, founder and managing partner of Harvest Properties. “It's an outstanding building that contributes to the health and stability of the San Francisco real estate market, which continues to perform at a high level on all sides of a transaction.”
According to Harvest Properties, the tower is currently 90% leased to more than 40 tenants. Harvest Properties currently owns and/or manages about eight million square-feet of commercial and industrial property in San Francisco and the Bay Area.
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