SAN FRANCISCO-Hines Global REIT has acquired the office propertyat 550 Terry Francois in the Mission Bay district here for thepurchase price of $180 million. The class A building in questionhas achieved LEED Gold certification, and is fully leased through2017. 550 Terry Francois was sold by a wholly owned subsidiary ofGLL Real Estate Partners, Inc. Globest.com had news of this transaction back inAugust, but at that time no details had emerged.

According to a statement from the REIT, its president and CEOCharles Hazen said, “We were attracted to this opportunity due tothe project's premier location, its state-of-the-art design andstrong credit tenancy.”

The office property possesses 282,773 rentable square feet andwas completed in 2002. Until 2017, it will be leased to Gap Inc.and will continue to be the headquarters of the company’s Old Navybrand. This building also includes a coffee shop, a company-ownedand operated cafeteria, and parking facilities in a six-storygarage with 308 spots.