SAN FRANCISCO—Local industry sources tell GlobeSt.com thatGE Capital Real Estate in a joint venture withLangley Investment Properties is selling its 405Howard St. here in San Francisco to a JV ofTIAA-CREF and Norges Bank InvestmentManagement. The deal is said to be around $350million.
The property, called Foundry Square II, is a 10-story low risebuilding located in the south financial district. Parties involveddid not respond to GlobeSt.com by deadline to confirm or deny andwe will follow this story and update as we learn more.
But what is confirmed is that TIAA-CREF has been busy lately inthe area. In April, the company purchased 55 Second St. from Hinesfor $275 million, or $725 per square foot. Built in 2002, the classA, 380,000-square-foot property located in the South FinancialDistrict is one of the few office towers built after 2000, saysJLL. The 26-story, LEED Gold Certified asset is anchored by KPMGand Paul Hastings, and has averaged 95% occupancy since itscompletion.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
