National Electrical Benefit Fund, Washington, has teamed up with Glenborough Realty Trust in a joint venture to develop and own 101 Ellsworth Ave., a six-story Class A office building in San Mateo, Calif., said Paul Saylor, chairman of CS Capital Management, which advised the $9 billion pension fund.
NEBF, which is investing $11 million in the venture, is a multi-employer pension plan jointly administered by the International Brotherhood of Electrical Workers and the National Electrical Contractors Association, both in Washington.
