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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.
