In a recently released statement, it was announced that the California State Teachers’ Retirement System was looking at selling its ownership stake in 120 Broadway. Calstrs, the 2nd largest U.S. public pension fund, bought a stake in the property in 2004 which is co-owned by Larry Silverstein.
The 40-story building was completed in 1915 and features nearly 2 million square feet of space. Even with Downtown’s current market situation, 90 percent of the building was occupied at the end of Q1. The State Attorney General’s office leases seven floors in the building and other tenants include insurance and financial firms.