Thursday, December 13, 2012

CBRE Global Trades San Fran Office Tower to MEPT

National Commercial Real Estate News From CoStar Group

CBRE Global Trades San Fran Office Tower to MEPT

CBRE Global Investors swaped 475 Sansome St. in downtown San Francisco to Multi-Employer Property Trust and Bentall Kennedy. The price was not disclosed.

A private investor sold the tower to CBRE Global nearly three years ago.

The 21-story, 353,269-square-foot office building is LEED-EB Gold certified and Energy Star rated. Oracle Corp. and Yahoo! lead the tenant roster structure, which is 90 percent occupied.

"On behalf of MEPT, we have...

PREI Sold Orbital Sciences Campus for $85.6 Million

Prudential Real Estate Investors completed its trade of the 337,228-square-foot Orbital Sciences Campus in Sterling, VA, for $85.6 million or $254 per square foot. Select Income REIT was the buyer.

PREI acquired the Class A portfolio five years ago from Boston Properties.

The three-building office complex is at the intersection of Warp Drive and Route 28 North, about 40 minutes northwest of Washington, DC. The 11-year-old campus is fully leased...

MetLife Closes On Major DC Acquisition

MetLife, in partnership with a major institutional investor advised by Clarion Partners, completed its long-rumored acquisition of Constitution Center, a massive, 1.4 million-square-foot office building at at 400 7th St. SW that qualifies as the largest privately-owned office building in the District.

The building, which is located in the southwest part of Capitol Hill, two blocks from the National Mall, completed a $250 million renovation eartlier...

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