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9/11/17
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Shorenstein Company purchased 901 Battery Street, an 89.9k sf office building located in San Francsico’s North Waterfront-Jackson Square neighborhood. It was sold by The Swig Company and Medley Partners. The price was not disclosed.
The building benefits from a recent $5.4 mil investment in substantial improvements further positioning the asset for mid-size technology tenants seeking creative space. The four-story building is home to a diverse group of tenants in technology communications and architecture.
NKF’s Kyle Kovac, Michael Taquino, Daniel Cressman and Mandy Lee represented the seller in the transaction.
“There was strong demand for this property given the great repositioning work the seller had done,” said Kovac. “They recognized the opportunity to leverage the building’s unique features and take greater advantage of an established submarket that is getting increased attention from technology companies and venture capitalists.”
NKF noted that the North Waterfront-Jackson Square submarket has a combined vacancy rate of 5.6%. Recently, the submarket has seen an increase in activity and new leases being signed in the $70 to $80 per square foot range.
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