SAN FRANCISCO-Those who follow @GlobeStcom on Twitter and @GlobeStLIVE may have seen a post teasing the announcement, but GlobeSt.com has learned that Multi-Employer Property Trust and Bentall Kennedy, real estate advisor to MEPT, have purchased 475 Sansome St.
The property is more than 90% leased to tenants with strong credit quality, according to a prepared statement, including high-profile technology companies and national and regional professional services firms.
The 21-story tower, was particularly appealing to the buyer “since it is in a market with high barriers to entry, supply constraints and solid fundamentals driven by a diverse economic base,” according to David Antonelli, EVP and MEPT portfolio manager at Bentall Kennedy.
The transaction was brokered by the San Francisco office of Holiday Fenoglio Fowler. HFF could not disclose further information at this time and could not disclose a purchase price or the seller’s identity at this time.
Check back to GlobeSt.com for more on this deal.