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Class A Office Asset in San Francisco’s Jackson Square Fetches $882/sf

5/10/17

A 17k sf, Class A office building in San Francisco sold for $15 mil, or $882/sf. The property is located at 499 Jackson St, in the heart of the city’s historic Jackson Square.

The ‘Jewel Box’ building is 92% leased to six high-quality tenants, ranging from high identity retail at street level to venture capital and tech on the office floors. Current ownership and the existing tenants have made significant contributions towards base building and tenant improvements, demonstrating pride of ownership and a long-term tenant commitment.

The boutique and vibrant environment of the North Waterfront/Jackson Square submarket attracts a wide variety of tenants including venture capital, technology, and financial firms. The property is within walking distance to the Montgomery BART station and the Ferry building, which is convenient for executives commuting via car or the ferry from the North Bay and East Bay.

Seth McKinnon, Tyler Meyerdirk and Laura Sagues with CBRE represented the seller, Montgomery Lytton LLC. Felipe Gomez-Kraus and Josh Peterson, also with CBRE, repped the buyer, 499 Jackson LCC. This deal comes on the heels of a record price set at neighboring property, 807 Montgomery, also arranged by McKinnon and Meyerdirk.






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