Trophy Asset 215 Fremont Gets New Owners
Clarion Partners and LPC West have acquired 215 Fremont, an eight-story office building with multiple roof decks and 45,000-square-foot floorplates within its approximately 360,000 square feet.
SAN FRANCISCO—Clarion Partners and LPC West have acquired 215 Fremont in the South Financial District for an undisclosed purchase price. The eight-story office building encompasses approximately 360,000 square feet boasting 45,000-square-foot floorplates and multiple roof decks. Building amenities include city views, bike parking and shower facilities, onsite parking, and 19,000 square feet of ground-floor retail.
GlobeSt.com learns that Charles Schwab and Fitbit will remain as tenants in the building. Moreover, there are no immediate plans for renovation.
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. The renovation allowed for the addition of two office floors on top of the building as well as the conversion of basement storage space into usable parking.
The building exterior was also renovated with new windows and facade along Fremont Street. Following the renovations, the project earned the Excellence in Structural Engineering Award by the Structural Engineers Association of California.
Located at the intersection of Fremont and Howard streets, 215 Fremont is steps from the Salesforce Transit Center which is currently closed for structural repairs. LPC West also serves as the asset manager for the transit center.
Many leading media and technology companies call the area home including Facebook, which 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.
JLL and Eastdil Secured assisted in the transaction.