SAN FRANCISCO-Hamburg, Germany-based Union InvestmentRealty GmbH has acquired 555 Mission St.,a 33-story, class-A office property in the South FinancialDistrict, for approximately $446.5 million. The seller for theLEED-CS Gold-certified property, which was completed in 2008, wasdeveloper Tishman Speyer.
The tower has been acquired on behalf of the open-ended realestate fund Unilmmo: Europa. This and other recentacquisitions and dispositions here and in Seattle further increasethe geographical diversification of the fund’s Americanholdings.
555 Mission St. is 88% leased to 12 tenants with an averagelease duration of 9.3 years. The anchor tenant is internationalconsulting firm Deloitte, which has a 14-yearlease. Designed by Kohn Pederson Fox Associatesand Heller Manus Architects, the office complexcomprises approximately 557,000 square feet featuring highlyefficient layouts.
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Carrie Rossenfeld
Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.
