X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

SAN FRANCISCO-Barker Pacific Group and Prudential Real Estate Investors have formed a joint venture to assume ownership of the 739,000-square-foot class-A One Sansome Street tower, also known as Citigroup Center, with plans to enhance management services and make significant improvements to the public areas of the building, the JV says. BPG, which is acting as the property manager, took ownership of the property in a joint venture with Pru after former owner Broadway Partners turned the building back over to its lender—Prudental.

The 43-story building, recently certified as LEED Gold, is 75% leased, leaving 148,000 square-feet of space available for new tenants. BPG and PREI say that they “plan to bring new life to the building’s conservatory space, long enjoyed by many in the financial office district.” Initially, the owners also plan to renovate and update the building’s lobby. BPG has already begun issuing proposals to prospective tenants and expects to secure several multi-floor leases to occupy the vacant space in the 10 upper floors of the building.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt
Live Chat

Copyright © 2022 ALM Media Properties, LLC. All Rights Reserved.