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Madison International Takes Stake in London’s Salesforce Tower
New York City-based Madison International Realty has acquired a minority stake in the Salesforce Tower in London, through a Jersey Property Unit Trust (JPUT), joining other investors including Heron International. Financial terms of the acquisition werent’ disclosed.
The 750-foot tower, completed in 2011 at 110 Bishopsgate, is an island site in the City of London district and provides 441,000 square feet of office space over 37 floors. The property is more than 93% leased to a range of tenants, the largest of which is Salesforce.
Alex Lukesch, managing director at Madison International, said, “The investment reflects our conviction in the ongoing resilience of the office sector and the role we believe it will play post pandemic. We have observed that demand for quality, well located space remains robust, while companies are increasingly looking for properties that also have strong ESG credentials to help meet their own sustainability targets.”
- ◦Sale/Acquisition
