Sale of 1155 Market Brings Nearly $73M

SAN FRANCISCO—Laurus Corp., a US-based private real estate investment and development has closed the $72.6 million sale of 1155 Market St. in San Francisco, realizing over 56% Internal Rate of Return for investors.

Laurus purchased the 11-story, 140,000 rentable square foot office building in 2011 essentially empty, where the single tenant was vacating the asset. Laurus was able to quickly re-lease more than 75% of the building for a 10-year term to the City and County of San Francisco and implement tenant improvement renovations in just 90 days. In addition, Laurus executed a $14 million renovation of the building, including the façade, lobby, corridors, bathrooms, elevators, common areas and overall MAP systems toward LEED Gold certification and Ashrae compliance.