{"id":1004045870,"date":"2012-08-30T06:02:52","date_gmt":"2012-08-30T14:02:52","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004045870"},"modified":"2022-12-07T19:24:28","modified_gmt":"2022-12-08T03:24:28","slug":"metlife-snags-san-franciscos-treat-towers-for-reported-130m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/metlife-snags-san-franciscos-treat-towers-for-reported-130m\/","title":{"rendered":"MetLife Snags Bay Area Treat Towers For Reported $130M"},"content":{"rendered":"<p><a href=\"https:\/\/www.commercialsearch.com\/news\/regions\/southwest\/metlife-snags-san-franciscos-treat-towers-for-reported-130m\/attachment\/print-2\/\" rel=\"attachment wp-att-1004045887\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004045887\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/metlife-snags-san-franciscos-treat-towers-for-reported-130m\/print-2\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/08\/Treat-towers-smallest-one.jpg\" data-orig-size=\"1600,1483\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;Print&quot;}\" data-image-title=\"Print\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/08\/Treat-towers-smallest-one.jpg?w=1024\" class=\"alignleft  wp-image-1004045887\" title=\"Print\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/08\/Treat-towers-smallest-one.jpg\" alt=\"\" width=\"277\" height=\"256\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/08\/Treat-towers-smallest-one.jpg 1600w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/08\/Treat-towers-smallest-one.jpg?resize=300,278 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/08\/Treat-towers-smallest-one.jpg?resize=768,712 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/08\/Treat-towers-smallest-one.jpg?resize=1024,949 1024w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/08\/Treat-towers-smallest-one.jpg?resize=1536,1424 1536w\" sizes=\"auto, (max-width: 277px) 100vw, 277px\" \/><\/a>By Lynn Armitage, Contributing Editor<\/p>\n<p align=\"left\">Metropolitan Life Insurance Company (MetLife), which oversees one of the largest real estate portfolios in the nation, of $60 billion, has acquired Treat Towers in the San Francisco Bay area. While the insurance giant has not disclosed the terms of the sale, it has been reported by several news sources that the property sold for close to $130.4 million.<\/p>\n<p align=\"left\">The property, located in Walnut Creek, is comprised of two 10-story Class A,\u00a0LEED-EB Gold certified\u00a0office\u00a0buildings totaling 378,000 square feet, and was previously owned by a joint venture with Equity Office Properties.<\/p>\n<p align=\"left\">The San Francisco Business Times reports the Treat Towers acquisition is \u201cone of the East Bay&#8217;s biggest office sales this year.\u201d , said the property is a valuable asset for the company.<\/p>\n<p align=\"left\">\u201cThis Class A property fits very well with our strategy of buying and holding core assets in top-tier markets,\u201d said \u00a0\u00a0Jacqueline Denning, director of MetLife\u2019s San Francisco regional office who helped spearhead the transaction.<\/p>\n<p align=\"left\">\u00a0Treat Towers is an especially attractive property due to its commuter-friendly proximity to Interstate-680 and the Pleasant Hill\/Contra Costa Centre BART station. What\u2019s more, there\u2019s a parking structure onsite, offering six levels of covered parking that can house more than 1,100 vehicles.<\/p>\n<p align=\"left\">\u201cThere are a number of very attractive amenities that make Treat Towers a great property,\u201d said Breck Lutz of Cornish &amp; Carey Commercial Newmark Knight Frank, the leasing company for the project. Some of these onsite amenities include a fitness center, a fully equipped conference center, an ATM in both buildings, banking facilities and a full-service caf\u00e9.<\/p>\n<p align=\"left\">Treat Towers will be managed by Harvest Properties, Inc. of Emeryville. The buildings were reportedly 85 percent occupied at the time of the sale.<\/p>\n<p align=\"left\">MetLife\u2019s well-diversified portfolio includes real estate equities, and commercial and agricultural mortgages. The company is a subsidiary of MetLife, Inc., one of the world\u2019s leading providers of insurance, annuities and employee benefit programs.<\/p>\n<p><strong><br \/>\n<\/strong><strong><\/strong><\/p>\n<p align=\"left\"><strong>\u00a0<\/strong><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>MetLife has bought Treat Towers in the San Francisco Bay area. The property, a 10-story Class A office building, was previously owned by a joint venture with Equity Office Properties.<\/p>\n","protected":false},"author":1162,"featured_media":1004045887,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,21742,21747],"tags":[],"class_list":["post-1004045870","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-latest","category-office"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>MetLife Snags Bay Area Treat Towers For Reported $130M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/metlife-snags-san-franciscos-treat-towers-for-reported-130m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MetLife Snags Bay Area Treat Towers For Reported $130M\" \/>\n<meta property=\"og:description\" content=\"MetLife has bought Treat Towers in the San Francisco Bay area. 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