SAN FRANCISCO-MacFarlane Partners is expanding at 201 Spear St. The Los Angeles-based investor of billions pension fund money has signed a seven-year, 21,923-sf expansion lease that will take its total leasehold in the 18-story building to 35,000 sf.

Already leasing the entire 14th floor, the firm is now also leasing the entire 12th floor and a portion of the 13th floor. The lease is valued at $6 million, which given the seven-year term breaks down to about $39 per sf per year, not including any concessions.

Garrett Cody Winchester, senior sales and leasing adviser in Charles Dunn’s San Francisco office, and Mark Hutchinson, CEO of Dunhill Partners West, represented MacFarlane Partners. The CAC Group represented the building owner, Mass Mutual.

Winchester tells GlobeSt.com that MacFarlane is in the process of building out its space and plans to occupy it in April. Part of the fit-out will include a private stairwell connecting its space on all three floors. The partial floor will house a large conference and meeting area. MacFarlane had been negotiating for the space ever since it came available more than a year ago.

Built in 1987, 201 Spear St. has 230,000 sf of rentable space and is nearly full. Current tenants include MCI WorldCom, Xerox, Credit Suisse First Boston and GE Capital Co.

MacFarlane Partners Inc. is a real estate management firm with $9 billion in assets under management. A large client of the firm is the California Public Employees Retirement System.

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