The 418,668-sf complex located South of Market is anchored by multiple federal government agencies. The larger property, 75 Hawthorne, holds 334,400 sf in 20 stories. It was built in 1987 and is 92% occupied. The other property, 95 Hawthorne, is a five-story building constructed in 1910 (renovated 1990). It has 84,200 sf of rentable space that is fully occupied.
Tenants in the buildings include the Environmental Protection Agency, the Health Care Financial Administration and the US Department of Agriculture. The EPA leases 259,000 sf in the complex through September 2009; its annual rent at the end of 2005 was $7.12 million ($27.50 per sf), according to SEC filings. The total annual rental income from the complex was $10.76 million ($28.49 per sf) at the end of 2005, according to SEC filings.
When G REIT acquired the complex in 2004 from ITW Mortgage Investments, it was 97% leased. ITW took title the property through foreclosure in 2002. Edward Suharski of Grubb & Ellis represented G REIT in its sale of the property to TMG Partners. Suharski also sold the building to G REIT on behalf of ITW.
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