Built in 1986 atop the Montgomery Street BART Station, 33 newMontgomery totals 20 stories and 234,000 sf. Glenborough, LLC, aSan Mateo, CA real estate investment and management companyspecializing in office properties own the Financial District officebuilding.

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Glenborough acquired 33 new Montgomery in mid-2005 for $75million. The property has 12,500-sf "L" shaped floor plates andoffers tenants bay and city views. Breitman leases all of the 6thfloor of the building and a portion of the 8th floor.

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The exact length of the lease, the negotiated lease rate and thebuilding's current vacancy and asking rates were not immediatelyavailable. Neither company president Andy Batinovich nor regionalleasing director Michael McCormac could be reached Tuesday morningfor comment. John Schneider of CresaPartners, who representedSelman Breitman, also was unavailable Tuesday.

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Glenborough is a former REIT that was taken private by a privateequity fund of Morgan Stanley in 2006. It focuses on owningmulti-tenant office properties concentrated in Northern California,Southern California, Denver and Washington, DC. The company has aportfolio of 57 properties encompassing approximately 10 millionsf.

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In early 2007, Morgan Stanley acquired 10 San Franciscoproperties from EOP for approximately $2.5 billion. Some of theassets—including One Post (421,000 sf), 201 California St. (250,000sf), 188 Embarcadero (aka Bayside Plaza, 88,000 sf), and theFoundry Square I development—went into a fund of Glenborough (Fund16), Batinovich told GlobeSt.com recently, while the remainder ofthe assets – including One Market (1.4 million sf), One MaritimePlaza (534,000 sf), 150 California St. (201,000 sf), and 60 SpearSt.—ended up in Morgan Stanley's Prime Property Fund.

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Glenborough recently completed Foundry Square I at a cost of$140 million. Its sole tenant, Barclays Global Investors, is slowlyoccupying the 10-story, 366,000-sf office tower in Downtown SanFrancisco. Glenborough's regional holdings also include 400 SouthCamino Real in San Mateo.

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