SAN FRANCISCO—Real estate investment and management firmJamestown has acquired WaterfrontPlaza, a 297,260-square-foot office complex in the NorthWaterfront submarket of San Francisco. The four-building asset,which was 92% occupied at the time of sale, is located along theEmbarcadero, and is bounded by Bay Street to the north, KearnyStreet to the west and Chestnut Street to the south.
The seller of the asset was LaSalle InvestmentManagement. Jamestown could not disclose any financialinformation regarding the acquisition to GlobeSt.com however anindustry source familiar with the deal puts it at around $88million.
The two, four-story office buildings, 50 Francisco St. with130,585 square feet and 1700 Montgomery St. with 143,350 squarefeet, provide large, efficient floor plates and featurefloor-to-ceiling windows that offer an abundance of natural light.1800 Montgomery St. houses the popular Hillstone restaurant and 60Francisco features a five-story parking structure and ground-flooroffices.
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