SAN FRANCISCO--(BUSINESS WIRE)--Clarion Partners and LPC West have acquired 215 Fremont in the South Financial District of San Francisco.
The 8-story office building encompasses approximately 360,000 square feet boasting 45,000-square-foot floor-plates and multiple roof decks. Located at the intersection of Fremont Street and Howard Street, 215 Fremont is situated steps from the Transbay Transit Center and its 5.4-acre rooftop park. LPC West also serves as the asset manager for the Transbay Transit Center.
Many leading media and technology companies call the area home, including Facebook, who leased 436,000 square feet in 181 Fremont, an adjacent office building, as well as more than 750,000 square feet in Park Tower, an office tower located a block from the building.
“We are excited to complete this transaction with leading investment firm Clarion Partners,” said Brandon Wang, Executive Vice President of LPC West. “It was a great team effort, working with multiple stakeholders, to acquire this best-in-class asset.”
Building amenities include numerous rooftop decks and terraces with sweeping city views, bike parking and shower facilities, onsite parking, and 19,000 square feet of ground-floor retail.
The building was constructed in 1927 and underwent a full renovation in 2001, including the addition of new building systems, a new building core, and a seismic retrofit that allowed for the addition of two office floors on top of the building as well as the conversion of the basement storage space into useable parking. The exterior of the building was also renovated with new windows and a new façade along Fremont Street. Following the renovations, the project earned the coveted Excellence in Structural Engineering Award by the Structural Engineers Association of California.
JLL and Eastdil Secured assisted in the transaction.
About Clarion Partners
Clarion Partners LLC, an SEC registered investment adviser with FCA-authorized and FINRA member affiliates, has been a leading U.S. real estate investment manager for more than 36 years. Headquartered in New York, the firm maintains strategically located offices across the United States and Europe. With over $48.6 billion in total assets under management, Clarion Partners offers a broad range of real estate strategies across the risk/return spectrum to its 350+ domestic and international institutional investors. More information about the firm is available at www.clarionpartners.com.
About Lincoln Property Company
Lincoln Property Company, founded in 1965 by its chairman Mack Pogue, is a privately-owned real estate firm involved in real estate investment, development, property management and leasing worldwide. Lincoln has offices in all major markets of the U.S. and throughout Europe. Lincoln’s cumulative development efforts have produced over 130 million square feet of commercial space and over 212,000 multifamily residential units. Lincoln Property Company is the second largest apartment manager in the United States. Access www.lpcwest.com for more information.
