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4/04/17
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In an institutional-quality office buy in San Francisco, NY-based Blackstone Real Estate Partners has purchased 211 Main St, an 18-story, 417.3k sf tower in the city’s South Financial District. The asset was sold by Los Angeles-based CIM Group in a deal worth around $313 mil, or $750/sf.
CIM Group acquired 211 Main in late 2009 for about $112 mil, as reported by RENTV at the time. It had been sold by the Booth family, which was the original developer of the building in 1973 and also had renovated the asset in 1998. The property, located at the corner of Main and Howard streets, includes a 50-car underground garage.
The building is fully occupied by Charles Schwab & Co, who recently inked a renewal lease at the property.
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