EMERYVILLE, Calif. – Commercial real estate investment and management firm Harvest Properties has been awarded the property management assignment for 100 Spear Street, a 21-story, 203,000 square-foot Class A office building located in San Francisco’s South Financial District.
The property was recently acquired by Newark, N.J.-based Prudential Real Estate Investors, with whom Harvest Properties has worked on a number of commercial property transactions over the years. Harvest Properties assumes management duties effective immediately.
PREI purchased the asset from New York-based Clarion Partners. Senior managing directors Michael Leggett and Gerry Rohm, as well as director David Karol of the San Francisco office of Holliday Fenoglio Fowler, represented Clarion Partners in the transaction.
Prudential has retained Jones Lang LaSalle as its new listing agent for the building, with brokers Chris Roeder and Bryan Ivie representing the new ownership. Originally constructed in 1984, the LEED Gold certified property recently was updated, including a main lobby renovation, remodeled multi-tenant floors, and upgraded elevators, and fire- and life-safety features.
“The 100 Spear Street address is sought-after for its flexible floor-plates, exceptional views and central location to transit and countless amenities,” said John Winther, founder and managing partner of Harvest Properties. “It’s an outstanding building that contributes to the health and stability of the San Francisco real estate market, which continues to perform at a high level on all sides of a transaction.” Harvest Properties currently owns and/or manages about eight million square-feet of commercial and industrial property in San Francisco and the Bay Area.
The office tower is nearly 90 percent leased to more than 40 tenants in a variety of industries, including high tech and professional services. Located near all major public transit options, including BART, MUNI bus and street car lines and the Golden Gate Ferry on San Francisco’s Embarcadero, 100 Spear St. is just one block from the future home of the Transbay Transit Center, the largest transportation hub ever conceived on the West Coast.
About Harvest Properties
Founded in 2002, Harvest Properties is a leading full-service commercial real estate investment firm specializing in acquiring, developing, managing and financing commercial property, primarily through joint-venture investments in northern California. Harvest Properties strives to generate attractive returns for its financial partners and provide creative real estate solutions and outstanding service.
Harvest Properties portfolio comprises approximately eight million square feet of office, industrial, R&D and retail properties in the San Francisco Bay Area. For more information, please visit www.harvestproperties.net.