Esprit Selling Headquarters for $15M

SAN FRANCISCO-Esprit de Corp, a clothing company, has come to an agreement to sell its San Francisco headquarters to the Bay School of San Francisco, a private secondary school.

If the deal closes, the school will pay nearly $15 million for the property, which consists of three buildings that total 107,118-sf. The complex is located ay 900 Minnesota St. The school will renovate the property to suit its needs.

In July of last year, Esprit put its headquarters on the market and expressed interest in a sale-leaseback transaction. However, it now plans to relocate its headquarters completely.

James Bennett of Whitney Cressman is representing Esprit in the deal, while Glenn Isaacson of CMA is representing the Bay School of San Francisco. Esprit is also trying to sell its outlet center, which is near the headquarters site. The outlet consists of a 3.75-acre property at 499 Illinois St.