Cornerstone RE Advisers Purchases New Montgomery Tower for $148M

Address: 33 New Montgomery St, San Francisco, CA

Seller:   Blackstone Group/Crescent Real Estate Equities (joint venture)

Buyer:   Cornerstone Real Estate Advisers LLC

RBA SF: 240,134 SF building

Lot size: 0.39 AC (16,771 SF)

Selling price: $148,900,000 ($620.07/SF )

Type:   Class A Office

According to Cornerstone’s website, they are located in Hartford, Connecticut and are an indirect subsidiary of the Massachusetts Mutual Life Insurance Company.  The building was 95% occupied at the time of sale to tenants such as Detecon, Progress Investment Management, the Office of the General Counsel, and US Customs.

Leave a Reply Cancel reply

Enter your comment here...

Fill in your details below or click an icon to log in:

Email (required) (Address never made public)

Name (required)

Website

You are commenting using your WordPress.com account. ( Log Out /  Change )

You are commenting using your Twitter account. ( Log Out /  Change )

You are commenting using your Facebook account. ( Log Out /  Change )

Cancel

Connecting to %s

Notify me of new comments via email.

Notify me of new posts via email.

Δ