{"id":1004197086,"date":"2017-11-10T02:14:43","date_gmt":"2017-11-10T10:14:43","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004197086"},"modified":"2020-02-28T00:37:41","modified_gmt":"2020-02-28T08:37:41","slug":"soma-office-building-commands-27m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/soma-office-building-commands-27m\/","title":{"rendered":"SOMA Office Building Commands $27M"},"content":{"rendered":"

By Keith Loria<\/em><\/p>\n

\"945<\/a>

945 Bryant Street<\/p><\/div>\n

Bridgeton Holdings has acquired 945 Bryant Street, a 41,745-square-foot office building located in the heart of San Francisco\u2019s SOMA district for $27 million through an off-market transaction. Newmark Knight Frank\u2019s capital markets\u00a0team facilitated the deal.<\/p>\n

\u201cIt\u2019s a very well located property amidst a cluster of strong technology companies including AirBnB and Pinterest,\u201d <\/em>Kyle Kovac, NKF\u2019s executive managing director, told Commercial Property Executive. \u201cThe SoMa District is the top performing submarket in San Francisco. 945 Bryant Street is located amidst many strong and growing tech companies, has immediate access to multiple freeways, and is walking distance to a high number of amenities, including some San Francisco\u2019s best restaurants.\u201d<\/em><\/p>\n

The building boasts open floor plates, 15-foot ceilings and plenty of natural light, well-suited for creative and technology tenants. The building also features ample parking and a private deck on the third floor.\u00a0The property is currently leased to creative\/technology tenants.<\/p>\n

\u201cBridgeton continues to seek deep value-add office properties in the Bay Area and 945 Bryant is a fantastic addition to our holdings,\u201d <\/em>Atit Jariwala, Bridgeton Holdings\u2019 CEO, said in a prepared release. \u201cBridgeton is confident that SOMA will continue attracting nationally-recognized firms furthering the district\u2019s historic growth.\u201d<\/em><\/p>\n

Financing for 945 Bryant Street was secured through Silverpeak Argentic.<\/p>\n

Invested in San Francisco<\/strong><\/h2>\n

The transaction is Bridgeton\u2019s fifth in San Francisco and second this year. This summer, the company sold the 37,104-square-foot Pioneer Building for $34 million, twice what it paid for it three years earlier. Bridgeton now owns and\/or operates more than 60 properties, including four properties in San Francisco<\/a>, including 555 DeHaro Street.<\/p>\n

The building is situated in a growing tech hub. Airbnb\u2019s headquarters is adjacent to the building and Pinterest is located just one block away. Additionally, more than 400 luxury residential units were recently delivered across the street and hundreds more are expected.<\/p>\n

NKF\u00a0Capital Markets\u00a0Executive Managing Directors Kovac,\u00a0Michael Taquino\u00a0and\u00a0Daniel Cressman\u00a0along with Associate Director\u00a0Mandy Lee\u00a0facilitated the off-market transaction.\u00a0Kovac, Taquino, and Cressman have represented approximately 40 percent of the active or closed listings in the\u00a0San Francisco<\/a>\u00a0office investment sales market in the range of $25 million to $150 million this year.<\/p>\n

According to NKF, the city of San Francisco continues to be a top-performing leasing and investment market, helped by more than 6 million square feet of tenant demand. Average Class A rents are commanding $74 per square foot and vacancy remains steady at 6.1 percent.<\/p>\n

Photo courtesy of NKF<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Situated in a growing tech hub in San Francisco, 945 Bryant Street boasts open floor plates, 15-foot ceilings and plenty of natural light. The transaction is Bridgeton Holdings’ fifth in the city and second this year.<\/p>\n","protected":false},"author":451,"featured_media":1004197095,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21808,21783,21742,21747,1609,15],"tags":[36968,36007,38301],"class_list":["post-1004197086","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-featured","category-investment","category-latest","category-office","category-san-francisco","category-west","tag-bridgeton-holdings","tag-newmark-knight-frank","tag-the-pioneer-building"],"acf":[],"yoast_head":"\nSOMA Office Building Commands $27M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/soma-office-building-commands-27m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SOMA Office Building Commands $27M\" \/>\n<meta property=\"og:description\" content=\"Situated in a growing tech hub in San Francisco, 945 Bryant Street boasts open floor plates, 15-foot ceilings and plenty of natural light. 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