Deal Highlights:

Mainstreet utilized its market knowledge and relationships to purchase this newly developed Class “A” building from the developer in an off-market transaction. At the time of purchase by Mainstreet and its joint venture partner, the property was 67% leased to Bechtel for nine years. The purchase price included a master lease covering the next year. Within a year of purchasing the property, Mainstreet was able to lease the remaining third of the building, including a ten-year lease to California Casualty Insurance. When Mainstreet sold the property it was more than 95% occupied.