SAN FRANCISCO—Prudential Real Estate Investors has purchased the 100 Spear Street office tower for $100 million.
HFF marketed the property on behalf of the seller, Clarion Partners. The building is located at the intersection of Market Street in San Francisco’s SouthDistrict, one block from the future Transbay Transit Center.
Originally developed by HKS in 1984, the 21-story tower is 91.5-percent leased to 41 tenants, including several professional service and technology companies. Since 2009, more than $4.5 million has been invested into the property including a substantial lobby renovation, fire-life-safety system upgrades and modernization of the elevator systems.
The HFFsales team representing the seller was led by senior managing directors Gerry Rohm and Michael Leggett, and director Dave Karol.