San Francisco

TMG Partners has acquired 208 Utah St., a 75,000-square-foot office building in San Francisco’s South Of Market. TMG purchased the asset from LUI SF 208 Utah LP “The 208 Utah St. building is the 14th property TMG has owned or developed South of Market since 1990,” says TMG Partners chairman and chief executive officer Michael Covarrubias. “It exemplifies the continuity of our strategy in seeking assets that are well located, tenant-focused and appropriately priced here in the City.” The four-story building, specifically located in the in the Showplace Square district of SOMA, is occupied by several high tech companies, including Flixter, Trulia and Workshare Technologies. As a number of the leases are scheduled to roll over in the coming months, there is significant opportunity to improve the asset and structure new tenancies, says TMG. TMG will first renovate the building lobby while focusing on leasing to growth-oriented companies seeking creative “brick and timber” space in this active neighborhood. Frank Wheeler of Colliers International represented the seller, and TMG has hired John Jensen of Grubb and Ellis to handle the leasing of the project.

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