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12/06/23
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The Presidio Trust has awarded Cushman & Wakefield the assignment for commercial property management services for the Presidio of San Francisco, a unique national park site and National Historic Landmark at the base of the Golden Gate Bridge. Cushman began in the role on December 1.
The Presidio is home to a mix of office, retail, cultural, and industrial/flex space across more than 171 mostly historical properties. The contract encompasses approximately 2.5 msf of space.
The Presidio is a former U.S. Army post that became a national park site in 1994 as part of the Golden Gate National Recreation Area. It is managed by the Presidio Trust, working in partnership with the National Park Service. Over the course of two decades, the Presidio Trust and its partners have transformed the military installation into one of the most visited national park sites in America, featuring world-class trails, nature experiences, and recreation. Today, the Presidio hosts 9.6 million visits annually.
In addition to being a popular visitor destination, the Presidio is essentially a small town, owing to the buildings and infrastructure that are the legacy of the Army days. This includes hundreds of historic buildings originally constructed as barracks, quarters, warehouses, hangars, and gun batteries. The Presidio Trust has brought these beautiful structures back to life through adaptive reuse. Today, the park is home to schools, gyms, restaurants, museums, and a wide range of office tenants, from non-profits to tech startups and venture capital firms. In total, the park has approximately 180 tenant organizations, including Letterman Digital Arts, Presidio Theatre, Futures Without Violence, Tides Converge, Sports Basement, and the Presidio Community YMCA. Rents earned support the operation and maintenance of the park.
The Cushman & Wakefield property management team for the Presidio portfolio is being led by Sandra Boyle, Executive Managing Director, West Region, Marsha Ramsey, Senior Managing Director, Northern California, and Nicole Price, Director, Northern California.
Presidio Trust has plans for further investment and improvement in 2024 and beyond. This includes renovating and bringing to market an additional 150k sf of commercial space. Properties will be renovated to high Leadership in Energy and Environmental Design (LEED) standards.
Cushman & Wakefield’s Asset Services ranked as the #2 Top Property Management firm in the country with approximately 5 billion sf under management in the United States, according to the latest annual ranking from Commercial Property Executive, a real estate news source.
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