SAN FRANCISCO-Pac-12 Enterprises has signed an 11-year, 70,000-square-foot lease at 370 Third St., an office building in the SoMa District. Pac 12, a sports-related media company that handles broadcast licensing and event planning for the Pac-12 Conference, plans to make its headquarters in the space. The owner is Kilroy Realty Corp. of Los Angeles.

The multi-floor lease includes both office space and a television studio, which Pac-12 Enterprises says it will use to broadcast more than 850 live sporting events annually. Those events include all conference football games and men’s basketball games that aren't carried by the firm’s national telecast partners, ESPN and FOX.

The space is to serve as headquarters and operations hub for three of the company divisions: Pac-12 Networks, Pac-12 Digital Network and Pac-12 Properties.

Pac-12 Enterprises formed earlier this year to develop and launch both the Pac-12 Networks and Pac-12 Digital Network. The company manages Pac-12 intellectual property rights, among other duties.

Talks started shortly after Kilroy signed the definitive contract to buy the 370 Third in November for $92 million. As part of the final lease agreement, KRC committed to a mid-2012 completion date for the office, digital media and studio space. Pac- 12 Enterprises is scheduled to take occupancy and set up its broadcast operations at that time. 

 The Cushman & Wakefiied team representing Pac-12 in lease negotiations included Ed Grammens, Sean Ivery, Adam Sharp, Mark Anderson and Reza Musavi, all from the firm's San Francisco office. Bill Cumbelich at CAC represented Kilroy.

Considerable legal was required both to complete the sale and the lease at the same time. The law firm of Allen Matkins represented Kiltoy, including real estate chair Tony Natsis along with Andy Ouvrier of the firm's Century City office. Pac-12's legal representation included David Roseman and Mark Mengelberg of Seyfarth Shaw's San Francisco office.

In negotiations for the building sale, Jeffrey Weber and Stephen Van Dusen of Eastdil Securities represented the owners, Cerbeus Institutional Real Estate Partners and Lincoln Properties. Mike Sanford of Kilroy provided in-house representation for the buyer.

To the legal work on the building sale, Allen Matkins attorneys Kevin Ehrhart and Brigid Brookman from the firm's Los Angeles office represented the sellers, while Peter Roth and Julie Hoffman, from the firm's Century City office,  represented the buyer. 

The 430,000-square-foot, seven-story building is walking distance to BART, CalTrain and the future Transbay Terminal. The building is currently 9% leased to Comcast SportsNet. With the Pac-12 lease, the building is nearly 35% leased.