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5/06/24
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Pacific Capital paid $9.35 mil for 2145 Market St, a 29.8k sf ($314/sf), trophy retail asset in San Francisco. The property was sold by a private family trust.
2145 Market is 100% leased to investment-grade tenant Walgreens and rapidly growing fitness tenant Live Fit Gym. The property features a WALT of 10.2 years. The site comprises two parcels totaling 0.36 acres and includes one two-story retail building and a subterranean parking garage. Zoning allows for 47k sf of residential and commercial use with parking to be accommodated by the existing on-site parking structure.
Located between 15th St and Church S., the property is positioned in a highly sought-after neighborhood at the confluence of Duboce Triangle, Mission Dolores and The Castro in San Francisco. 2145 Market is situated on the city’s major commercial thoroughfare and is surrounded by affluent residential communities, new developments, thriving commercial districts and tremendous walkability and transit access. In addition, the average household income within one mile of the property is $220k/yr.
Eric Kathrein, Warren McClean, Andrew Spangenberg and Jen Mistretta with JLL Retail Capital Markets represented the seller in the transaction.
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