SAN FRANCISCO—Harvest Properties, Emeryville,CA, has acquired 55 Hawthorne St. in SanFrancisco, from Divco West with longtime partnerInvesco Real Estate.

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Additionally, Harvest has entered into an agreement to manage631 Howard Street also acquired by Invesco.Harvest will install a new “best in class” management team withexpertise in leasing, construction management and tenant relationsimmediately. Deal terms were not disclosed.

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Well known in San Francisco as HowardHawthorne, the two class “A” office buildings total239,299 square feet. The complex offers the advantage of largefloor plates, easy access to public transportation and the covetedamenity of ample parking in a market with a shrinking supply.Renovated in 2013, Howard Hawthorne sits on a prime block in theheart of San Francisco's exploding South FinancialDistrict, one of the strongest office markets in thenation. The Property is one block from the thriving SecondStreet Technology Corridor and just a few blocks from thelargest US development currently under construction, the massiveTransbay Project that is dramatically changing thelandscape of downtown San Francisco.

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“In this incredibly dynamic submarket we are thrilled to secureand manage these particular assets.” said JohnWinther, Founder and Managing Partner of HarvestProperties, “They offer the unique equation of desirable creativespace plus abundant on-site parking near the epicenter of SanFrancisco's historic transformation. We believe they are perfectlypositioned to capitalize on unprecedented growth.”

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Built in 1929, 631 Howard Street is a charmingfive-story, 101,437 square foot brick and timberstructure that features a side core design, 20,000 squarefoot floor plates, and 18-foot glasswindows on the ground floor. Optimizely, a tech start-upnamed by Forbes as one of the top thirteen start-ups of 2013, is ina longterm lease for the entire building.

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55 Hawthorne Street, which was completed in1970 is an 11-story, 137,862 square foot,office tower that features 17,000 square foot floorplates and a five level, 348 stall parking garage.

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The Harvest asset teams will oversee a variety of projects,including upgrading the building systems and bringing the buildingup to the standards required by today's office tenants whichinclude exposed ceilings, open floor plans and high-end finishes.Additional projects will include suite upgrades coinciding withtenant lease expirations, recapturing and combining spaces asappropriate to meet market-demand for suite sizes, and maximizingparking revenues. Ownership expects to be able to offer a block ofup to 100,000 square feet of space in time.

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Harvest is a full service commercial real estate investment,development and management firm focused on Northern Californiamarkets.

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The JLL Investment Sales team ofMichel Seifer, Rob Hielscher, Aaron Herter andDaniel Renz brokered the deal. Leasing brokersinclude Mark Geisreiter and CharlieWithers of CBRE.

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David Phillips

David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.