Transwestern announced it negotiated the disposition of the 17,242-sq.-ft. (1,602 sq m) industrial property located at 828 Brannan St. in San Francisco, Calif.
Transwestern announced it negotiated the disposition of the 17,242-sq.-ft. (1,602 sq m) industrial property located at 828 Brannan St. in San Francisco, Calif. Michael Cisternino, Transwestern’s senior vice president and director of investment services and Steven Orchard, senior vice president represented the seller, 828 Brannan Street LLC in the transaction. The buyer acquired the site for $9.99 million and plans to add three floors of creative office space above the existing structure, along with a complete remodel of the first and second floors.
“This site’s prime location between the headquarters for Pinterest and Airbnb, and directly across from one of the largest housing developments in Showplace Square made 828 Brannan an ideal redevelopment opportunity,” said Cisternino. “The new ownership’s plan to add creative office space will make this a highly sought-after location for tech and social media companies that have been actively looking to lease space in this submarket.”
The property is across the street from the planned 432-unit, mixed-use apartment complex being developed by Equity Residential. The development also will have 37,000 sq. ft. (3,437 sq m) of landscaped open space and 3,000 sq. ft. (278.7 sq m) of retail/restaurant space.
For more information, visit transwestern.com.