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8/04/21
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A joint venture between Bridgeton and STARS REI purchased a 73k sf, creative office building in San Francisco’s SoMa neighborhood. The price was not disclosed.
Located at 260 Townsend St, the property has over 375 feet of frontage along Townsend and Lusk Streets. The seven-story creative office building features private terrace spaces, a 73-space garage and single-tenant, side-core floor plates with expansive windows.
The property is currently 80% leased to a diverse tenant base with long-term leases, including Battery Ventures and Swinerton. Located one-half block from the 4th Street Caltrain Station and new Central Subway line, 260 Townsend benefits from direct access to public transportation and immediate proximity to many of the city’s top restaurants and amenities, including Oracle Park.
Bridgeton is a San Francisco and New York-based investor and operator with over $1 bil in assets under management. STARS REI is a Chile-based investor with over $1 bil in real estate holdings across the United States.
Mike Taquino, Kyle Kovac and Giancarlo Sangiacomo of CBRE’s San Francisco office represented the undisclosed seller in the transaction.
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