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August 13, 2020
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Lincoln Property Company and Rockwood Capital Spend $38 Mil on San Francisco Office Asset


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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