Embarcadero West is one of the more prestigious listings given out to a third party brokerage firm. C&W senior directors Christopher Roeder and Zach Siegel will share the leasing assignment.
Roeder tells GlobeSt.com that including upcoming vacancy, there is about 100,000 sf of space to lease in the building. The total includes the Fenwick & West law firm, which is expected to vacate 42,000 sf in early 2007.
JRT Realty and C&W jointly provide leasing and asset management services for a portion of TIAA-CREF's national portfolio, which totals about 11 million sf of office and industrial space in 100 buildings. JRT is a certified Minority and Woman-Owned Business Enterprise. Company EVP Greg Smith will help oversee the leasing effort.
The sale of Embarcadero Center West closed on Dec. 14, 2005. The gross sale price was $205.8 million. Boston Properties says that price does not include closing costs, transaction-related expenses and unfunded tenant obligations totaling approximately $10.6 million.
The sale was preceded in October by Boston Properties repaying the $90.7-million mortgage loan on the property with $72.7 million of available cash and $18 million drawn under the company's Unsecured Line of Credit. There was no prepayment penalty associated with the repayment.
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