Jackson Square Office Building Changes Hands in SF
- May 11, 2017
CBRE Capital Markets, through Seth McKinnon and Tyler Meyerdirk, has negotiated the $15 million sale of a Class A office building in San Francisco for. Laura Sagues, vice president of CBRE, assisted the Capital Markets team. Recently, McKinnon and Meyerdirk also arranged the sale of a neighboring property at 807 Montgomery St.
Situated in the heart of Jackson Square at 499 Jackson St., the five-story, 15,432-square-foot property is less than a mile away from the Montgomery BART station and the Ferry building. The asset also offers easy access to various hotels, restaurants and bars, including Hilton San Francisco Financial District, Bask and Kusakabe.
At the time of the transaction, the property was 92 percent leased to six tenants. The ground floor features retail space, while the upper floors are used by venture capital and tech companies as office space. According to Property Shark data, Montgomery Lytton LLC acquired the asset in 2014 for $9 million from Montgomery Jackson Partners.
In March, CBRE Capital Markets also arranged the sale of 657-667 Mission St. in San Francisco’s South Financial District.
Image via Google Street View