The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
May 21, 2018
 Search RENTV
 Video Programs
News Home Page
Southern California
Northern California
Pacific Northwest
Prop. Management
Press Releases
 R. E. Marketplace
Service Providers
Property Spotlight
 RENTV  Conferences
Subscriber Login:
Forgot Password?

Printer-friendly Version   Email an Associate
Thor Equities Spends $40 Mil on San Francisco Office Asset


In a recent San Francisco office buy, Thor Equities paid $40 mil for 634 Second Street, a 46.8k sf ($855/sf) office/retail property in the city’s SOMA District. It was sold by MCM Real Estate Services, part of Manchester Capital Management LLC, who acquired the asset in 2007 for around $16 mil, prior to renovations.

The sellers had spent over $6 mil in property upgrades in addition to about $2.5 mil in improvements for the tenant, Okta, a cloud computing firm that leased the building’s office space through 2024. There is a restaurant, Merigan’s Café, in the ground floor space.

Kyle Kovac, Michael Taquino and Daniel Cressman with NGKF Capital Market advised MCM in the property’s disposition and were joined by Newmark Cornish & Carey’s Michael Brown and Bill Benton, who also represented MCM in the successful lease-up of the property. As part of the transaction, Thor also engaged Newmark Grubb Knight Frank to both secure its acquisition financing and begin the property management of the asset moving forward.

San Francisco-based Thor Equities has invested heavily in the San Francisco, Silicon Valley and Oakland markets over the past year. The firm sold the historic Phelan Building at 760 Market Street in San Francisco last year for $374 mil.

“Ideally positioned on the Second Street Corridor of San Francisco’s South of Market Area, 634 Second Street lies within the most innovative and mature technology submarket in the country,” said Kovac. “The creative property is proximate to the best and most diverse amenity base in the city — and is just one-and-a-half blocks from AT&T Park.”

Return to the Archive page




Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2018 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media