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9/15/16
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The Pioneer Building, an historic, 37.1k sf office building in the heart of San Francisco’s colorful Mission district, is now fully leased with the recent signing of a credit tenant for the remaining available space. The building is owned by Bridgeton Holdings.
Located at 3180 18th St, the Pioneer Building is a three-story, fully renovated creative office building with a unique story and identity. Originally built in 1902 as the Pioneer Luggage Factory, the property has undergone a full, state-of-the-art restoration that preserves the integrity of the historic building while meeting the needs of today’s technology and creative office tenants.
Bridgeton acquired the building in early 2014. At the time it was leased to several growing technology tenants. Over the past two years, Bridgeton stabilized the property by negotiating lease expansions. When the in-place tenant required a significantly larger space, Bridgeton recognized the opportunity and negotiated an early termination to re-lease the building at market rent. The new lease is for a 10-year term with space delivered in “as-is” condition.
Charlie Withers and Josh Peterson of CBRE’s downtown San Francisco office represented the owner, Bridgeton Holdings. Bridgeton was actively involved in negotiating the lease.
Bridgeton recently acquired 995 Market Street in San Francisco’s Mid-Market for $62 mil. The company also owns other buildings in the San Francisco Bay Area.
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