San Francisco Office Building Trades for $27M
- Sep 13, 2019
Brick and Timber Collective has expanded its footprint with the acquisition of a 30,000-square-foot creative office building in San Francisco. Newcastle Partners, in partnership with Drake Real Estate Partners, sold the property for $27 million after nearly three years of ownership. JLL arranged the sale on behalf of the seller.
Situated at 900 Kearny St., the office building is in San Francisco’s Jackson Square neighborhood, near the intersection of North Beach, the north Financial District and China Town. The property is also located near public transportation, including the BART, which offers access to the entire Bay Area.
Constructed in 1989, the six-story building underwent significant renovations in 2018, with upgrades including new open office spaces and single-floor suites. The building features a 6,000-square-foot ground-floor retail space and an on-site conference room. The asset is currently 100 percent leased, to tenants such as EastWest Bank, Bitmami and Novani.