Beverly Hills based Starpoint Commercial Properties has purchased about 200,000 square feet of commercial space in The Tower downtown. No doubt that the best deals will be in existing and proven infrastructure such as this. The Tower has so far made a fairly good run at things with a good showing on the street level retail. 
Aside from the restaurant locations on street level, The Tower has so far been able to make good use of second floor office space and 70,000 additional square feet in the annexed parking garage. This space has been leased by Chesapeake since before their Pier 1 building acquisition. Given a contraction in Chesapeake’s activity and the additional space they now own, my concern would be in losing a tenant for one third of newly acquired space. This concern would be compounded by the fact that another third of the space acquired by Starpoint is subsurface. 70,000 square feet of the sale includes two underground levels within The Tower proper. Â Starpoint is most likely betting long term; but it should be interesting what ends up the basement of The Tower.
