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The two-tower,
Class A, 732,000 square-foot office property located in San Francisco’s South Financial
District was acquired by MEPT in 2005. Since purchasing the asset, MEPT worked
diligently to market space in the building, leasing over 550,000 square feet over the last
five years and achieving a 94 percent occupancy rate at the time of sale.
In his new role, Mr. Keto will work closely with NewTower’s
President and CEO, Patrick Mayberry, in the general management
of the bank, including business and operations management,
organizational and human resource development, investment
management, and external relations.
MEPT
purchased Columbia Center I and an adjacent parcel of land in 1998. In 2000, MEPT
completed construction of Columbia Center II, creating over 616,000 job hours in
the local community.
The government continues to flock to Patriots Plaza in Southwest, having just signed a new 58,143-square-foot lease at the site this week. The 321,502-square-foot building, completed in October, is part of a three-phase, 1 million-square-foot office complex developed and leased by Trammell Crow Co. of D.C…The owner of Patriots Plaza, Multi-Employer Property Trust, has seen gradual leasing success at the complex since its first building, Patriots Plaza I, was completed in 2005…
The majority owner of the Columbia Center towers in Troy has sold its stake in the complex ...Troy-based Kirco Development Corp., developer of both towers and formerly a minority investor, bought out the majority investor…
One of the upcoming sales is 303 Second St. (left), a 732,000 square-foot property 90 percent leased through the end of March. This transaction will give the San Francisco office market a benchmark for both building values and capitalization rates… There was plenty of buyer interest in the property, too; it attracted nearly 20 bids. The top seven or eight of the offers were north of $300 a square foot…
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Real Estate Bisnow
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Multifamily Monday: Guinness World Record
You don't have to wait until Guinness comes out in September for larger-than-life
stats: 360 State Street in New Haven, Conn., a 700k SF, 500-unit apartment
complex, recently installed the biggest fuel cell ever to operate in a
residential building.
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June 2010 |
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National Real Estate Investor (NREI)
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Fuel Cell In Large-Scale Multifamily Development Energizes New Haven
The installation of a 400-kilowatt fuel cell at 360 State Street, a 700,000
sq. ft. mixed-use development under construction in downtown New Haven,
Conn…is the first large-scale residential installation of a fuel cell
worldwide, according to Fuel Cells 2000, a non-profit environmental organization.
… The 360 State Street fuel cell required an undisclosed upfront investment
by the primary investor in the building, The Multi-Employer Property Trust
(MEPT)...
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June 2010 |
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Washington Business Journal
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Patriots Plaza signs new government tenant
The government continues to flock to Patriots Plaza in Southwest, having
just signed a new 58,143-square-foot lease at the site this week. The
321,502-square-foot building, completed in October, is part of a three-phase,
1 million-square-foot office complex developed and leased by Trammell
Crow Co. of D.C… The owner of Patriots Plaza, Multi-Employer Property
Trust, has seen gradual leasing success at the complex since its first
building, Patriots Plaza I, was completed in 2005…
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May 2010 |
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Crain's Detroit Business
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Columbia deal may be hopeful sign. Sale price highest since 2007;
financing rare
The majority owner of the Columbia Center towers in Troy has sold its
stake in the complex ...
… Troy-based Kirco Development Corp., developer of both towers and formerly
a minority investor, bought out the majority investor…
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May 2010 |
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The Bay Area Business
Journal
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San Francisco Office Values Begin to Crystalize
One of the upcoming sales is 303 Second St. (left), a 732,000 square-foot
property 90 percent leased through the end of March. This transaction
will give the San Francisco office market a benchmark for both building
values and capitalization rates…
…There was plenty of buyer interest in the property, too; it attracted
nearly 20 bids. The top seven or eight of the offers were north of $300
a square foot…
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May 2010 |
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San Francisco Business
Times 
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Real estate suddenly feels fresh wind in its sales
Kilroy Realty Corp.'s pending $237 million acquisition of 303 Second St.
in San Francisco sends a signal that the office sales market is on the
mend and that the raft of distressed downtown towers expected to come
to market may never appear, according to industry observers.
Real estate investment trust Kilroy Realty Corp. has agreed to pay $237
million cash, or $326 a square foot, to buy the 730,000 square foot 303
Second. The price is about 15 percent higher than most brokers expected…
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April 2010 |
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Washington Business Journal
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Largest spec office in D.C. earns LEED Gold certification
Patriots Plaza II and III Class A office buildings have been awarded Gold
certification for core and shell projects in the U.S. Green Building Council's
program for Leadership in Energy and Environmental Design, according to
Citybizlist.com. Patriots Plaza II and III are part of the three-phase,
1 million-square-foot office complex funded and owned by Multi-Employer
Property Trust…
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April 2010 |
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The CoStar Group
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GRM Buys Bedford Park Industrial Property
GRM Information Management Services closed on the purchase of a 296,147-square-foot
industrial property in Bedford Park, IL, from MEPT/New Tower Trust Co.
for $8.15 million, or $28 per square foot…
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April 2010 |
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| Crains Detroit Business
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MEPT sells Bedford Park warehouse
The Multi-Employer Pension Trust sold a nearly 300,000-square-foot warehouse
at 7123 W. 65th St. in southwest suburban Bedford Park for $8.15 million,
according to public records. The buyer is New Jersey-based records storage
company GRM Information Management Services, which is expanding…
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March 2010 |
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The CoStar Group
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ENERGY STAR Awards Showcase Best in Commercial Real Estate
Some of the nation's most energy-conscious commercial real estate firms
were recognized Tuesday night in northwest Washington, DC, for their contributions
to ENERGY STAR, the far-reaching, government sponsored energy efficiency
program...Kennedy Associates Real Estate Investment Advisors took Partner
of the Year Award honors.
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March 2010 |
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AIR Commercial Real Estate Association
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DAUM's Sackler Inks Benchmark Vernon Sale
DAUM Commercial Real Estate Services announced that it represented 4150
Bandini Partnership LLC in the acquisition of a 335,000 square foot, multi-tenant
industrial building located in Vernon…Sackler reports that the sale was
"one of the largest industrial transactions to take place in Vernon over
the past 28 months."
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March 2010 |
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Washington Business
Journal
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GSA inks deal at Patriots Plaza
It's official: The FBI is moving into 180,000 square feet at Patriots
Plaza II.
Under a new lease awarded by the General Services Administration this
week, hundreds of Federal Bureau of Investigation employees will move
into the new Southwest D.C. building. It's the latest example of big government
tenants pouncing on large blocks of empty space…
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March 2010 |
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Puget Sound Energy
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Five Washington businesses to be honored by the EPA for their energy
conservation efforts
The U.S. Environmental Protection Agency this week notified five Washington-based
businesses that they will receive 2009 ENERGY STAR awards at a ceremony
on March 31 in Washington, D.C. The energy conservation efforts of Advantage
IQ, Kennedy Associates… all received EPA national recognition.
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March 2010 |
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