SAN FRANCISCO- Those who follow @GlobeStcom on Twitter and @GlobeStLIVE may have seen a post teasing the announcement, but GlobeSt.com has learned that Archstone Fox Plaza has sold to Essex Residential Property Trust. According to Colliers International—who tells GlobeSt.com the price amounted to $135 million—this is one of the largest multifamily sales transactions in the Bay Area over the past few years.
Archstone Residential was represented in the transaction by the Colliers International San Francisco Office. Frank Wheeler, Mark Feldman, Stephen Jackson, Tony Crossley, Tim Maas, and David Orosco led the marketing team in the sale. Archstone Fox Plaza is located at 1390 Market St. in San Francisco in the mid-Market Street district.
Built in 1960, the vintage concrete mixed-use tower with world class views of San Francisco consists of 29 floors, including residential, office and retail tenants. The sale included 443-residential units, a 407-car underground garage, an attached two-story retail building, and entitlements to build an additional 250 residential units.
The lower 13 floors, which are owned separately, were not part of the transaction.
GlobeSt.com will update this story as more information becomes available.
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