Brent Hawkins Of Morgan Lewis Signs 123000 Square Foot Lease At Transamerica Pyramid In San Francisco
600 Montgomery Street
Building Size
123,000 SF
Asset Type
Office
Closing
Mar 13, 2025
AI
The asset involved in the transaction is a 123,000-square-foot office space located at 600 Montgomery Street in San Francisco. The office space is situated in the Transamerica Pyramid, which has seen an investment of $250 million in renovations by the owners, SHVO and Deutsche Finance America, who acquired the property for $650 million in 2020. Currently, the occupancy rate stands at 85% amid the challenges in the San Francisco office market.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 600 Montgomery Street
- Market: San Francisco
- Asset Size: 123,000 square feet
- Landlord: Michael Shvo - SHVO
- Landlord: Jason Lucas - Deutsche Finance America
- Tenant: Brent Hawkins - Morgan Lewis
Morgan Lewis signed the lease agreement for the office space, with plans to relocate from One Market Plaza in early 2026. This transaction reflects the efforts of the landlords to enhance property occupancy in a challenging market, providing a significant space for the tenant's operations in the coming years.
Players
San Francisco Office Market Snapshot
Boundary boundary · Office · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93