It's 275 Battery, and Teachers tells us why it's unloading the prime downtown asset after a near 10-year hold. (Most teachers only spend one year with you, so it beats the average.)
A TIAA-CREF spokeswoman confirmed the 475k SF building, also known as Embarcadero West, is being marketed for sale through Eastdil Secured. "We are constantly reviewing our holdings and rebalancing the portfolio to best meet investment goals," she tells us. Teachers bought the 30-story skyscraper, built in 1989, from Boston Properties in 2005 for over $205M. Next week we're talking to head of Northwest acquisitions Rich Kimble about Teacher's plans for future acquisitions in S.F.
