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The seven-story 939 Ellis, which Seavest Healthcare Properties acquired in June 2018 for $49 million, consists of 87,189 square feet of rentable office space, and 53 parking spaces. The acquisition marked Seavest's entrance into the San Francisco real estate market.
Hunt, a highly regarded office real estate specialist, will help expand firm's consultation and tenant-representation practice in Philadelphia and Wilmington.
Developers should focus less on the benefit from the opportunity zone incentives and more on the overall return from investing in the property, says Jeff Monge, managing partner of Monge Capital.
A refinanced office complex benefits from not only favorable market dynamics but also organic growth from existing tenants such as Google which are drawn to the building's central location and amenities.