Breevast Buys Two Office Buildings, Parking Lot

The properties are 139 Townsend St., a 57,682-sf office building; 301 Brannan, a 69,090-sf office building, and 345 Brannan, a 24,110-sf parking lot. The portfolio was 92% leased at the time of sale.The largest tenant in the portfolio is Advent Software, which leases 59,000 sf in 301 Brannan. The lease runs through late '08. The other building is leased to smaller tenants with varied lease expiration dates.

Frank Wheeler and Tony Crossley, both of Colliers International's San Francisco office, had the disposition assignment. Neither Wheeler nor Crossley returned phone calls seeking comment. "Foreign investors like Breevast are continually seeking bigger stakes in the Western US market," says Wheeler in a prepared statement.

Breevast BV, founded in 1963, focuses on the development and management of commercial real estate, including stores, offices, and industrial buildings, in the Netherlands, Belgium and North America. The company focuses on a sectorial and geographical spread with a view to the distribution of risk.