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NORTHERN CALIFORNIA NEWS
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Avison Young Awarded Assignment for Office Space in San Francisco Portfolio

9/28/22

Grosvenor has awarded Avison Young the leasing assignment for office space within a portfolio of four boutique, mixed-use properties located in San Francisco’s Union Square. Totaling just over 133k sf, the high-quality, office and retail properties are located at 240 Stockton St, 214 Grant Ave, 170 Grant Ave, and 251 Post St. The portfolio’s ground-floor retail tenants include Dior, Gucci and The RealReal.

Avison Young’s Kelly Glass, Sean McCallum, William O’Daly and Melinda Ta will be handling the assignment. They will be targeting small- to mid-sized companies seeking boutique office space that is convenient to public transit as well as retail and dining amenities. Venture capital, law, finance, insurance, architecture, engineering, and marketing groups are some of the core users that will be attracted to the properties.

“As downtown San Francisco slowly recovers, we believe that Grosvenor’s properties are well-positioned to be some of the first to rebound in the market as these buildings align well with companies that are refocusing on their return-to-office and hybrid schedule strategies,” said McCallum. “Additionally, Grosvenor is a long-term landlord with pride of ownership and a commitment to improving places for the benefit of communities, which resonates well with tenants.”

Following is information on each of the assets:

• 214 Grant Avenue is a four-story 31k sf asset built in 1908. The property has a newly renovated top floor, speculative suite with a kitchen, lounge, and conference room (4.6k sf) available for immediate occupancy.
• 240 Stockton Street is a 10-story 40.4k sf LEED Gold Certified building built in 1908. Four full floor suites including conference rooms and kitchens are available, with the ability to combine two of the suites for a total of 7.4k sf.
• 170 Grant Avenue is a six-story 24.8k sf property built in 1907. Two full floor suites with abundant natural light (3.4k sf) are available for immediate occupancy, with the ability to combine both floors for a total of 6.9k sf.
• 251 Post Street is a six-story 37k sf LEED Gold Certified asset built in 1908 with a newly renovated lobby and restrooms. The property has four suites available for immediate occupancy, with the ability to combine two suites for a total of 2.4k sf.




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