Greenwich Group brokers deals on both coasts The Greenwich Group International, New York, has brokered major office deals in two of the hottest markets in the United States - San Francisco and Boston. Both are Class-A properties in each city's CBD.

On behalf of Boston-based Huntington Avenue LP, The Greenwich Group brokered the sale of 116 Huntington Street in Boston's Back Bay area. The 15-story, 261,901 sq. ft. building was sold to Boston-based ATC Realty, a subsidiary of American Tower Corp., for $55.2 million. The building is fully leased, and ATC expects the expiration of below-market-value rents to increase revenue over the next few years.

The Greenwich Group also brokered the sale of 333 Bush Street in San Francisco to German investors. A group of pension funds advised by Dallas-based L&B Realty Advisors owned the development, which reportedly sold for approximately $155 million. The building was 95% leased at the time of the sale.

More than a mile high, really the world's tallest building If Denver businessman W. Scott Moore can build an 86-story mixed-use tower in the Mile High city, wouldn't that qualify as the world's tallest building? Regardless of the new structure's height, Moore and the partnership behind The Trango Tower are progressing with plans for the 1.56 million sq. ft. mixed-use monolith, whichincludes 240 luxury condominiums, a 325-room five-star hotel and 140,000 sq. ft. of Class-A office space.

Trango's partners are lining up debt financing and a combination equity partner/hotel operator for the downtown Denver development, which is estimated to cost $380 million. The mixed-use aspect should give Trango Tower an edge, says Mark Quam, one of the development's partners.

"By any single use's standards it would be a risky project," Quam says. "But with 250 residential units, a boutique hotel, 140,000 sq. ft. of office and 40,000 sq. ft. of retail, that really dilutes the risk. If we project that office is where we need to go, or the hotel player needs more rooms, or the residential is really hot, we can expand to meet that demand."

The 43-story, 535,000 sq. ft. building was 95% leased at the time of the sale.

If Denver developer W. Scott Moore can build an 86-story mixed-use tower in the Mile High city, wouldn't that qualify as the world's tallest building? Regardless of how high above sea level the new structure rises, Moore and the development group behind The Trango Tower are sailing ahead with plans for the 1.56 million sq. ft. mixed-use monolith development, which includes 240 luxury condominiums, a 325-room five-star hotel and approximately 140,000 sq. ft. of Class-A office space.

Initially priced between $850,000 and $4 million, Trango Tower's residential units have drawn interest from around the world, with some potential buyers willing to pay $8 million for penthouse views of the Rocky Mountains, says Mark Quam, a partner in the development. Trango's partners are in the process of lining up a combination equity partner/five-star hotel operator for the downtown Denver development as well as debt financing for the project, which is estimated to have a total cost of $380 million. The mixed-use aspect of the development gives Trango Tower an edge in acquiring financing and meeting demand, Quam adds.

"By any single use's standards it would be a risky project," he says. "But with 250 residential units, a boutique hotel, 140,000 sq. ft. of office and 40,000 sq. ft. of retail, that really dilutes the risk. If we project that office is where we need to go, or the hotel player needs more rooms, or the residential is really hot, we can expand to meet that demand."

Equity Office gets hold of Prominence in Buckhead Chicago-based Equity Office Properties Trust has acquired Prominence in Buckhead, a Class-A office building in Atlanta's Buckhead submarket, from Atlanta-based Holder Properties. In keeping with terms announced last year, Equity Office purchased the 18-story, 425,706 sq. ft. building upon its completion - along with an adjacent parking facility and a surrounding 11.88-acre parcel - for approximately $70.8 million.

Current leasing activity includes two signed leases totaling 67,891 sq. ft., as well as 161,329 sq. ft. currently under lease negotiations. The development includes a seven-level parking deck for 1,350 vehicles.