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October 23, 2018
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Lincoln Property Company and Rockwood Capital Spend $38 Mil on San Francisco Office Asset

8/02/18

Lincoln Property Company has teamed up with Rockwood Capital LLC in the purchase of an historic, 45k sf office building in San Francisco. The nine-story building, located at 332 Pine St, was sold for approximately $38 mil ($844/sf) by Polidev Investments, who paid a little over $22 mil for the asset in early 2014.

Built in 1912, 332 Pine features open floor plans, side-core construction, high ceilings, and exposed concrete and brick. The building includes a penthouse and rooftop terrace, and is occupied by a variety of technology and media tenants. It is conveniently located a short walk from two BART stations Montgomery and Embarcadero as well as nearby amenities including Equinox Pine Street, Blue Bottle Coffee and the Loews Regency hotel.

Peter Kaye, co-managing Partner of Rockwood, added, 332 Pine represents an excellent property to add to our portfolio and exemplifies our focus on acquiring high-quality, well-located real estate in mixed-use environments that benefit from public transportation.

Kyle Kovac and Mike Taquino of Newmark Knight Frank were invoved in brokering the transaction.





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