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Jamestown Buys 145k sf Office Building in San Francisco’s North Waterfront District

12/13/16

Jamestown L.P. has acquired 55 Francisco, a 145.2k sf, Class A state-of-the-art office building located at the corner of Francisco St and Montgomery St in San Francisco’s North Waterfront District. Athough the transaction price was not given out, the deal is reported to have closed for about $91 mil, or about $625/sf.

55 Francisco, currently 97 percent leased to tenants including The RealReal, Pacific Fertility Centers, and Endpoint Clinical, consists of an eight-story office building and an adjacent four-level, 274-stall parking garage situated on 1.12 acres. The parking garage also serves as the primary parking deck for Cruise Ship guests.

55 Francisco features contemporary creative and medical facilities, unparalleled panoramic views of the San Francisco Bay, soaring ceilings, renovated and modernized bathrooms on every floor, private showers, and abundant parking.

The property is adjacent to the Waterfront Plaza campus, a four-building, 297k sf Class A office complex acquired by Jamestown in 2014. Bounded by Bay St, Francisco St, Kearney St and Chestnut St, the campus features secured bike parking, immediate proximity to a five-story parking structure and the popular Hillstone restaurant, and beautiful landscaping upgrades implemented by Jamestown, including more drought tolerant plants and seating areas for tenants to enjoy lunch or experience the spacious campus. Jamestown is in the process of further amenitizing the property.

The newly expanded Waterfront Plaza is served by several public transit services including MUNI’s Market Street F trolley line, as well as ferry service to Marin, the East Bay and Peninsula just four blocks away at Pier 41. It provides convenient access to Marin County and the greater North Bay via the Embarcadero, and offers a shuttle to and from the downtown corridor during the morning and evening hours. It is within short walking distance to some of San Francisco’s most iconic destinations including Pier 39, Fisherman’s Wharf, and Ghirardelli Square.





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