SAN FRANCISCO-The Savoy Corp. has sold 170 Columbus Ave., alsoknown as the Pansini Building, along with 1455 N. McDowell St. inPetaluma, as part of a two-building portfolio. The buyer of the$16-million portfolio was private investor, Rona Real EstateLLC.
According to Colliers International, who represented the seller,the sale represents the strength and attractiveness of the JacksonSquare submarket, where the Pansini building is located. The2.26-million-square-foot submarket has had historically low vacancyand boasts diverse mix of tenants, including law, advertising,technology, and design firms, the firm says. And according to thecompany’s mid-year report, Jackson Square has had marginaloccupancy growth of 8,251 square feet this year and its vacancyrate is currently 11.6%.
The Pansini building was built in 1985 by the SavoyCorp. Located on the corner of Columbus Avenue and KearnyStreet, the five-story, plus lower level, mixed-used propertyconsists of ground floor and lower level retail with office on theupper floors, plus a four-level subterranean parking garage. Thebuilding is 100% leased. Excluding parking, the building isapproximately 62,265 square feet.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
