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August 23, 2019
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San Francisco Creative Office Building Sells for Over $1,000/sf

12/20/18

Toy Real Estate Investment Company has acquired a 26.8k sf creative office building in San Francisco for $29 mil as part of a 1031 exchange trade. We’re told that the sale, which came in at $1,080/sf, set a new high-water mark for boutique office properties in the city’s South Financial area.

Photo: Vantage Point Photography
Photo: Vantage Point Photography
Originally built in 1905, 604 Mission Street has been renovated into a modern creative office space while maintaining its historic look and feel with exposed brick walls, high ceilings and floorplates averaging 2.6k sf. The 10-story, fully leased property features a penthouse unit and ground floor retail, which is occupied by Atlas Tap Room and Archive Bar & Kitchen.

604 Mission has a transit-oriented location in the heart of San Francisco’s highly sought-after Transbay District just one block from the Montgomery St. BART/Muni Station and adjacent to Transbay Terminal. Additionally, the property has access to an abundance of amenities within a two-block radius, giving the property an exceptional Walk Score® of 96.

Ben Bullock, David Dokko, Jordan Angel, Thomas Foley and Kenny Bruzzone with HFF represented the seller, 604 Costa LLC, an affiliate of Market Street Real Estate Partners LLC, and procured the buyer, who was repped by Christina Chung of Coldwell Banker . The buyer assumed a CMBS loan that HFF had recently secured for the seller. HFF assisted the buyer through the loan assumption process.






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