The Peninsula Industrial Pros

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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.

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This entry was posted on July 1, 2014 by in In the News, Office, Recent Sales, San Francisco County and tagged , , .
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