PREI Picks Up 100 Spear St.
Clarion Partners LLC, the New York-based investment manager, finalized its sale of 100 Spear St., a 22-story tower in the south financial district of San Francisco, for $100 million or $492 per square foot. Prudential Real Estate Investors was the buyer.
Delivered in 1984 and renovated in 2011, the 203,071-square-foot office building
is Energy Star rated and LEED Gold certified. Its 22nd floor consists of mechanical and tenant storage.
Kidder Mathews and Pond North LLP lead the tenant roster of the 91.5 percent leased property. The average asking rent per year is approximately $55 per square foot, according to CoStar Group information.
Gerry Rohm, Michael Leggett and David Karol of HFF represented the seller.
See CoStar COMPS #2691262 for more information.
Editor's note: The article was updated to identify PREI as the buyer.