TMG and Farallon paid $127 million, or$287 per sf, for the asset in September 2006 and thenproceeded to invest several million more for a seismic retrofit andexterior skin renovation. The price for the most recent sale, whichclosed last week, was not disclosed by the parties involved, but alocal industry source tells GlobeSt.com that the price topped $400per sf ($176 million).

The 418,668-sf Hawthorne Plaza complex is located south ofMarket Street. The larger property, 75 Hawthorne, holds 334,400 sfin 20 stories. It was built in 1987. The other property, 95Hawthorne, is a five-story building constructed in 1910 (renovated1990) with 84,200 sf net rentable.

The federal government occupies 73% of the space at HawthornePlaza. The largest single government tenant is the EnvironmentalProtection Agency, which leases approximately 260,000 sf throughSeptember 2009. As part of the sale, Hines has assumed propertymanagement and leasing responsibilities.