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.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
