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Tishman Speyer Taking Full Control of San Francisco Tower for $530M
New York City-based J.P. Morgan Asset Management is reportedly divesting its interest in 222 Second Street, a 452,418-square-foot office tower in San Francisco, to its financial partner in the development, Tishman Speyer Properties, for roughly $530 million. The newly-developed 26-story office tower is leased to LinkedIn.
Neither J.P. Morgan or Tishman Speyer commented on the deal. The venture had explored selling the asset last year. The developer eventually elected to hold the property long term. The site was purchased in 2006, received full entitlements in 2010 and opened last year.
The project is located on the southwest corner of Howard and Second Streets, which places it in the center of the Second Street corridor. The property is within easy walking distance of many of San Francisco’s prominent restaurants, AT&T Park, as well as Union Square.
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- ◦Sale/Acquisition


