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1/11/24
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City Center Realty Partners LLC purchased a freestanding, 4.5k sf retail and office property in San Francisco’s Marina District.
Originally built in 1907, the two-story, multi-tenant building is located at 2197 Chestnut Street at the busy corner of Pierce Street, about a block from Highway 101. The ground floor of the building is currently leased to Tri Counties Bank.
Cushman & Wakefield’s Kazuko Morgan and Heather Trimble represented the buyer in the acquisition. The seller was repped by David Klein and Elijah Hodges of Lee & Associates.
“City Center Realty Partner LLC’s acquisition of this asset speaks to their continuing commitment and confidence in San Francisco and the City’s future ability to attract tenants, both regional and global brands, as it has done historically,” said Executive Vice Chairman Kazuko Morgan. “City Center currently owns and has enhanced several retail properties throughout Union Square in San Francisco, as well as a variety of other commercial assets in the Bay Area. Aligned with its business strategy, this will be a great opportunity for City Center to optimize the potential of 2197 Chestnut—which provides a prime urban location at a rare, hard-to-find corner location.”
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