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8/04/25
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Lincoln Property Company and New York Life Real Estate Investors (“NYLREI”) have acquired 600 Townsend West, a 210k sf, Class A creative office property in the heart of San Francisco’s burgeoning Design District. The five-story building is located at Townsend and 7th, between I-80 and I-280, amid growing AI businesses and other drivers of the city’s flourishing tech economy. It is near major city landmarks like Oracle Park and the Chase Center.
600 Townsend West is currently more than 90% leased by a variety of top-tier tenants in technology and other sectors. With average floor plates of 42k sf, high ceilings and a top floor terrace, the building continues to attract top-tier users. Other amenities include a dramatic two-story lobby, an expansive outdoor courtyard, shuttle service to BART, secure car and bike parking, and LEED Gold certification.
The building, which had never before been brought to market since its original development in 1989, recently underwent substantial renovations. These included a modernized lobby, improved outdoor courtyard, and significant solar overhaul. The new ownership plan further enhancements at the property, including curated activation of the lobby and outdoor courtyard, amenity upgrades, and market-ready improvements.
The deal is the second recent joint acquisition between Lincoln Property Company and NYLREI, following the loan acquisition in June of 353 Sacramento, a 23-story Class A office tower in the Financial District.
“We continue to see the recovery in San Francisco, driven by return to office mandates, the epicenter of the artificial intelligence boom and overall improvements in the street scene and business climate,” said Albert Pura, Senior Director for New York Life Real Estate Investors. The acquisition of 600 Townsend West is the third acquisition of an office asset in the San Francisco Bay Area this year for NYLREI, and fourth since 2024, including 410 Townsend, the note on 353 Sacramento and Drake’s Landing in Greenbrae.
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