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600 Montgomery Street

Updated Mar 14, 2025

Brent Hawkins Of Morgan Lewis Signs 123000 Square Foot Lease At Transamerica Pyramid In San Francisco
LEASEDOffice

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

About this deal

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.

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Players

Michael Shvo

SHVO

Landlord

$3.1B

vol

17 deals

Landlord
DA
Deutsche Finance AmericaLandlord
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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

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