SAN FRANCISCO—The sale of 6X6 at 945 Market St. to Ingka Centres San Francisco LLC means an urban format IKEA is soon to be part of the city landscape. The seller, MSP Property LLP, a company controlled and owned by Alexandria Real Estate Equities Inc. and TMG Partners, acquired the retail property in August 2019.
Since then, the $150 million project remained vacant other than the two-level below-grade parking garage containing 167 spaces. Prior to opening in the fall of 2016, the property's name was changed from Market Street Place to 6X6, a reference to the six-story building on Sixth Street.
The neighborhood has been patiently waiting for this building to welcome tenants and the joint venture is "thrilled to be able to execute a signature retail transaction in this current environment", said Matt Field, TMG Partners president.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
