“Park Tower will provide tenants with an opportunity to build a truly vibrant community workspace within one of San Francisco’s most exciting new neighborhoods.”
San Francisco, CA – MetLife Investment Management, MetLife Inc.’s (NYSE: MET) institutional asset management platform, in partnership with The John Buck Company and Golub & Company, announced today that Facebook, Inc. has signed a long-term lease for all of Park Tower at Transbay, one of San Francisco’s newest Class A office buildings.
Construction of Park Tower will be completed by the end of this year. The 43-story, 764,700 square foot building will comprise 755,900 square feet of LEED Gold office space that was designed to attract, retain and help develop San Francisco’s technology workforce.
Joel Redmon, San Francisco-based managing director for MetLife Investment Management’s real estate business, said: “We’re pleased to welcome Facebook to Park Tower. We’ve worked hard to design an office of the future that will facilitate technological innovation and provide a great foundation for Facebook’s future success. Park Tower is the ideal combination of location, iconic design, stunning views of San Francisco Bay from 70 percent of the floors. The project also features approximately 26,000 square feet of outdoor and open space including 14 sky decks.”
Ben Kochalski, principal at The John Buck Company, added: “Park Tower will provide tenants with an opportunity to build a truly vibrant community workspace within one of San Francisco’s most exciting new neighborhoods. It is fitting that a dynamic global company so focused on building communities and bringing the world together will call Park Tower home.”
The John Buck Company, co-owner of Park Tower, also acted as MetLife Investment Management’s development partner. JLL represented the owners in the lease agreement, while architecture firms Goettsch Partners and Solomon Cordwell Buenz designed the project.
About MetLife Investment Management
MetLife Investment Management (“MIM”), MetLife, Inc.’s institutional asset management platform, provides institutional investors including corporate and government pension plans, insurance companies and other financial institutions with long-term public and private investment and financing solutions. With operations in the Americas, Asia and the Europe, Middle East & Africa (EMEA) regions, MetLife Investment Management manages assets for third-party institutional investors, separate accounts and MetLife, Inc.’s general account. MetLife Investment Management leverages a disciplined credit research and underwriting process to provide institutional investors with asset origination and acquisition opportunities and proprietary risk management analytics across traditional fixed income strategies, commercial real estate debt and equity investing, agricultural financing, and private placements, among others. For more information, visit www.metlife.com/investments.
MetLife, Inc. (NYSE: MET), through its subsidiaries and affiliates (“MetLife”), is one of the world’s leading financial services companies, providing insurance, annuities, employee benefits and asset management to help its individual and institutional customers navigate their changing world. Founded in 1868, MetLife has operations in more than 40 countries and holds leading market positions in the United States, Japan, Latin America, Asia, Europe and the Middle East. For more information, visit www.metlife.com.
About The John Buck Company
Founded in 1981, The John Buck Company (JBC) has an established track record and reputation as a premier, vertically-integrated real estate investment, development and operating company focused on major U.S. urban markets. Since inception, JBC has made principal investments in assets comprising more than $6.7 billion of gross value and acquired, developed, or redeveloped over 42 million square feet of office, multifamily, residential and mixed-use properties. For more information, visit www.tjbc.com.
About Golub & Company LLC
Since its founding more than 55 years ago, with three generations of professionals working in the business, Golub & Company has built a strong reputation as a trusted co-investor and developer with its many institutional and private capital partners. It’s a reputation based on track record; Golub and its affiliates have owned, leased or managed more than 50 million square feet of commercial, mixed-use and multifamily real estate properties (inclusive of 45,000 residential units), valued in excess of $10 billion located across the United States and internationally. Access more information by visiting www.golubandcompany.com.