Real Estate Industry San Francisco Ca

Mortimer Zuckerman's Boston Properties Inc. has won the high-stakes contest for San Francisco's giant Embarcadero Center office and retail complex, agreeing to pay $1.22 billion for one of the West Coast's premier properties. David Rockefeller and Prudential Insurance Co. of America sold the center--which combines four office towers and shopping center space in the financial district--for about 20% more than the going rate for trophy properties in the city.

Mortimer Zuckerman's Boston Properties Inc. has won the high-stakes contest for San Francisco's giant Embarcadero Center office and retail complex, agreeing to pay $1.22 billion for one of the West Coast's premier properties. David Rockefeller and Prudential Insurance Co. of America sold the center--which combines four office towers and shopping center space in the financial district--for about 20% more than the going rate for trophy properties in the city.