Real Estate Transactions: Anderson Consulting Tower

Property: Anderson Consulting Tower

Buyer: California State Teachers' Retirement System

Seller: Metropolitan Life Insurance Company

Source: Public Records, Seller

Sale Date: December 20, 1999

Sale Price: $88,450,000

Unit Price: $141.00/sq. ft. (NRA), $95.71/sq. ft. (GBA)

Net Rentable Area: 627,324 sq. ft.

Gross Building Area: 924,152 sq. ft.

Zoning: B4-2

Utilities: All available

Topography and Soil: Good

Visibility and Access: Good

Age: 1987

Land Size: 65,137

Remarks: 31-story tower with four levels of below grade parking and 661 stall; sold with 94% occupancy level and prjected Year One NOI of $7,686,000 resulting in an overall capitalization rate of 8.69%. Seller also sold adjacnet 43,763 square foot site on block to another buyer.

Back To Top