{"id":1004189253,"date":"2017-09-01T04:46:20","date_gmt":"2017-09-01T12:46:20","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004189253"},"modified":"2022-12-08T22:58:09","modified_gmt":"2022-12-09T06:58:09","slug":"san-francisco-union-square-asset-trades-for-69m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/san-francisco-union-square-asset-trades-for-69m\/","title":{"rendered":"San Francisco Union Square Asset Trades for $69M"},"content":{"rendered":"<p>By Mihaela Coste<\/p>\n<div id=\"attachment_1004189254\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/09\/150-Post-St.-San-Francisco.jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004189254\" data-attachment-id=\"1004189254\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/san-francisco-union-square-asset-trades-for-69m\/150-post-st-san-francisco\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/09\/150-Post-St.-San-Francisco.jpg\" data-orig-size=\"1162,871\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"150 Post St., San Francisco\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/09\/150-Post-St.-San-Francisco.jpg?w=1024\" class=\"wp-image-1004189254 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/09\/150-Post-St.-San-Francisco.jpg\" alt=\"150 Post St., San Francisco\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/09\/150-Post-St.-San-Francisco.jpg 1162w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/09\/150-Post-St.-San-Francisco.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/09\/150-Post-St.-San-Francisco.jpg?resize=768,576 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/09\/150-Post-St.-San-Francisco.jpg?resize=1024,768 1024w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004189254\" class=\"wp-caption-text\">150 Post St., San Francisco<\/p><\/div>\n<p>Federal Realty Investment Trust sold a seven-story, 105,000-square-foot retail and office building located in the Union Square district of\u00a0San Francisco for a price tag of $69.3 million. The buyer remained undisclosed.<\/p>\n<p>Located at 150 Post St., at the intersection of Post and Kearny streets, the property\u00a0houses retail tenants on the first and second floors and multiple office tenants on the remaining five floors. The property is located in close proximity to Union Square, one of the city\u2019s largest retail hubs. Within five miles of the asset, the average household income is more than $120,000 and the total population is estimated at 666,479.<\/p>\n<h2><strong>Investment Sales Strategy<\/strong><\/h2>\n<p>&#8220;<em>This non-core asset sale reflects the competitive investment sales market in\u00a0San Francisco,<\/em>&#8221; said\u00a0Jeff Berkes, West Coast president of Federal Realty, in a prepared statement. &#8220;<em>We continue to evaluate non-strategic disposition opportunities within our portfolio as the transaction markets for well-located assets remains strong.<\/em>&#8220;<\/p>\n<p>&#8220;<em>The sale of 150 Post Street further exemplifies our balanced and disciplined approach to our balance sheet and capital funding needs,<\/em>&#8221; added Dan Guglielmone, CFO\u00a0&amp; treasurer. <em>&#8220;Year-to-date we have completed\u00a0$123 million\u00a0of dispositions.&#8221;<\/em><\/p>\n<p>Recently, the company expanded its presence\u00a0with the $107 million purchase\u00a0of a\u00a0<a href=\"https:\/\/www.commercialsearch.com\/news\/chicago-grocery-anchored-shopping-center-commands-107m\/\" target=\"_blank\" rel=\"noopener noreferrer\">grocery-anchored shopping center<\/a>\u00a0located in Chicago\u2019s Lincoln Park\u00a0neighborhood. Federal Realty\u2019s total portfolio consists of 105 properties totaling approximately 24 million square feet and more than 1,800 residential units.<\/p>\n<p><em>Image via <\/em><em>Google Street View<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The seven-story property located in the Union Square district of San Francisco houses retail tenants on the first and second floors and multiple office tenants on the remaining floors.<\/p>\n","protected":false},"author":1192,"featured_media":1004189254,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21742,21747,21749,1609,15],"tags":[33957],"class_list":["post-1004189253","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-latest","category-office","category-retail","category-san-francisco","category-west","tag-federal-realty-investment-trust"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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