LEED Gold San Francisco Tower Brought to Market in Financial District

SAN FRANCISCO-CBRE says it has been retained by Hines' U.S. Core Office Fund to market 101 Second, a 24-story class A office tower which includes 388,370 square feet of space. The property is currently 89% leased with 23 tenants and is LEED Gold Certified.

CBRE's Russell Ingrum, vice chairman; Kevin Shannon, vice chairman; Joe Moriarty, EVP; Sean Sullivan, EVP; and Tyler Meyerdirk, VP; are marketing the property on behalf of the seller.

“We believe 101 Second offers a rare opportunity for investors to both capitalize on strong market fundamentals and acquire one of the best-of-the-best trophy assets in San Francisco,” says Ingrum. “101 Second is one of only 10 office towers constructed in San Francisco since 1992, and thus is among the relatively few newest generation buildings in the market. Investment opportunities like this are becoming increasingly scarce.”

101 Second is anchored by a base of high-quality tenants that include Reed Smith, ranked 19th on American Lawyers list of Top 100 U.S. law firms; Clyde & Co., ranked 12th on The Lawyers list of Top 200 U.K. law firms, and; Moss Adams LLP, the 11th-largest public accounting firm in the U.S. These three tenants lease approximately 43.5% of the net rentable area, with the other occupancy comprised of 21 tenants in diversified industries.

“101 Second couldn't be in a better location with a better line-up of tenants,” says Ingrum. “Not only has the San Francisco office market been the top-performing office market in the nation over the past two-and-a-half years, 101 Second is ideally situated at the hard corner of Mission and Second Streets, adjacent to San Francisco's $4 billion Transbay Transit Center, and one block south of Market Street and BART in the heart of the South Financial District. The location is truly irreplaceable.”

Designed by internationally acclaimed architects, Skidmore, Owings & Merrill, 101 Second is distinguished by its highly articulated steel frame, Spanish limestone and light green glass façade, and dramatic four-story, light-filled, aluminum and glass Art Pavilion.

In recognition of its superior operating efficiencies and sustainability, 101 Second achieved LEED Gold Certification by the U.S. Green Building Council in 2009, and has been earned its ENERGY STAR every year since 2006.

Hines is a privately owned real estate firm involved in real estate investment, development and property management worldwide. The firm's historical and current portfolio of projects that are underway, completed, acquired and managed for third parties includes 1,283 properties representing more than 516 million square feet of office, residential, mixed-use, industrial, hotel, medical and sports facilities, as well as large, master-planned communities and land developments.  Currently, Hines manages 378 properties totaling 151.9 million square feet, which includes 84.3 million square feet for third parties.  With offices in 111 cities in 18 countries, and controlled assets valued at approximately $25.2 billion, Hines is one of the largest real estate organizations in the world.

CBRE Group, Inc., headquartered in Los Angeles, is the world's largest commercial real estate services and investment firm (in terms of 2012 revenue).  The company has approximately 37,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide.