Tishman Speyer Closes Sale of 160 Spear in San Francisco

San Francisco, June 2, 2015 – Tishman Speyer, one of the world’s leading developers, owners, operators and asset managers of first-class real estate, today announced the acquisition of 160 Spear Street, a 19-story, 290,000-square-foot office property located in San Francisco’s South Financial District.

Financial details of the transaction were not disclosed.

The Class A property is strategically located in a supply-constricted submarket, one block from the Transbay Transit Center, Market Street and the Embarcadero waterfront. It is close to major transportation options including BART (Bay Area Rapid Transit), Caltrain, bus and streetcar services, and access to major highways. It is 95 percent leased with tenants that include The Regents of the University of California, Workday, Conversant, and the GSA on behalf of the Social Security Administration.

“The San Francisco office market continues to be one of the world’s strongest and the Spear Street corridor in the South Financial District has emerged as an office, retail and residential location of choice,” said Tishman Speyer Senior Managing Director Carl Shannon. “Accordingly, we are pleased to expand our footprint as a major commercial landlord here with this well-located property. We intend to upgrade the lobby and plaza, and to operate 160 Spear according to Tishman Speyer’s world-class standards.”

About Tishman Speyer (www.tishmanspeyer.com)
Tishman Speyer is one of the leading developers, owners, operators, and asset managers of first-class real estate worldwide. Active across North America, Europe, South America and Asia, Tishman Speyer is relied upon by many of the world’s most prestigious corporations to meet their office space needs. As of December 31, 2014, the firm had acquired, developed and/or managed a portfolio of approximately 133.5 million sq. ft. with a total value of approximately USD $71.7 billion since its founding in 1978. Signature assets include New York’s Rockefeller Center and the Chrysler Center, São Paulo’s Torre Norte, Ventura Corporate Towers in Rio de Janeiro, and OpernTurm in Frankfurt. Tishman Speyer also has projects at different stages of development currently in Atlanta, Brasília, Chengdu, Frankfurt, Gurgaon, Hyderabad, Paris, Rio de Janeiro, San Francisco, São Paulo, Shanghai and Suzhou.

West Coast Commercial Real Estate News