Transactions - JULY 24, 2014

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CalSTRS to sell another asset

by Andrea Waitrovich

The $183.8 billion California State Teachers’ Retirement System is selling 1835 Market St., a 684,000-square-foot office in Philadelphia. CalSTRS declined comment on the asking price; however, it has been reported to be more than $100 million.

The pension fund purchased the 29-story asset in 2002 for $83 million from State Teachers Retirement System of Ohio.

CalSTRS has been selling many of its assets. In June, CalSTRS sold a number of industrial properties: Frisco Commerce Center in Frisco, Texas, to Crow Holdings; the Brockton Business Park in Austin to DRA Advisors; and Centre Point in Milpitas, Calif., to Integral Communities. Other property sales inc

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