Office

SAN FRANCISCO – The University of California, San Francisco(UCSF) has announced its plans to establish a state-of-the-art clinical and translational research unit focused on endocrinology in Mission Bay. The 30,000-square-foot space will be located at 499 Illinois Street in the San Francisco submarket. The facility is in close proximity to UCSF'S research campus and three new hospitals. The university has signed a 15-year lease at the property. Illumina also recently nabbed office and laboratory space at this 222,780-square-foot waterfront project. About 82 percent of the building is now leased or under negotiation. The building is owned by Alexandria Real Estate Equities.

SAN FRANCISCO – The University of California, San Francisco (UCSF) has announced its plans to establish a state-of-the-art clinical and translational research unit focused on endocrinology in Mission Bay. The 30,000-square-foot space will be located at 499 Illinois Street in the San Francisco submarket. The facility is in close proximity to UCSF'S research campus and three new hospitals. The university has signed a 15-year lease at the property. Illumina also recently nabbed office and laboratory space at this 222,780-square-foot waterfront project. About 82 percent of the building is now leased or under negotiation. The building is owned by Alexandria Real Estate Equities.

SEATTLE — GLL Real Estate Partners has purchased a 130,530-square-foot, Class A office building in Seattle’s South Lake Union neighborhood for a reported $97 million. The six-story building is located at 202 Westlake. It is fully leased, with Amazon being the main tenant. The building is only three blocks away from the company’s high-rise headquarters development, which will contain 2.2 million square feet at Sixth and Blanchard. This is GLL’s first purchase in Seattle.

LOS ANGELES – The State Bar of Californiawill soon occupy the top four floors of a 111,000-square-foot office building in Downtown Los Angeles. The building is located at 845 South Figueroa Street. The space is undergoing a $14-million interior renovation before the State Bar takes up residency this December. Smart & Final recently opened on the building’s ground floor.The renovation will be carried out by Driver SPG, a construction affiliate of C.W. Driver. LeanArchwill serve as the project’s architect. The five-story building also underwent a full-base renovation last year before the State Bar purchased the property from L&R Companies. The State Bar will be relocating from the AT&T Center once the renovations are complete.

PHOENIX – Omninet Capital has purchased the Midtown Phoenix Bank of America Tower for $14.8 million. The 189,000-square-foot building is located at 3030 N. Central Ave. The tower is currently 87 percent leased to tenants like Bank of America, Dignity Health, Xerox, AVESIS, Teach for America and Barrow Neurological Institute. Omninet plans to invest more than $2 million to renovate the building. The company also plans to invest an additional $200 million in the Phoenix market over the next two years. Omninet represented itself in this transaction. The seller, a partnership between Morrison Street Capital and Ronald Realty Group, was represented by Michael Crystal of Cushman & Wakefield of Arizona and Jim Palmer of The Palmer Group.