{"id":1004297966,"date":"2019-02-11T05:38:54","date_gmt":"2019-02-11T13:38:54","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004297966"},"modified":"2019-02-11T05:38:54","modified_gmt":"2019-02-11T13:38:54","slug":"clarion-partners-buys-336m-san-francisco-office","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/clarion-partners-buys-336m-san-francisco-office\/","title":{"rendered":"Clarion Partners Buys $336M San Francisco Office"},"content":{"rendered":"<div id=\"attachment_1004297972\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/02\/215-Fremont-Street.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004297972\" data-attachment-id=\"1004297972\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/clarion-partners-buys-336m-san-francisco-office\/215-fremont-street\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/02\/215-Fremont-Street.jpg\" data-orig-size=\"640,512\" 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=\"215 Fremont Street\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;215 Fremont Street&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/02\/215-Fremont-Street.jpg?w=640\" class=\"wp-image-1004297972 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/02\/215-Fremont-Street.jpg\" alt=\"\" width=\"300\" height=\"240\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/02\/215-Fremont-Street.jpg 640w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/02\/215-Fremont-Street.jpg?resize=300,240 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004297972\" class=\"wp-caption-text\">215 Fremont Street<\/p><\/div>\n<p>Clarion Partners has acquired 215 Fremont Street, a 427,393-square-foot Class A office mid-rise in San Francisco, for $335.5 million, according to Yardi Matrix. The seller, Jack Resnick &amp; Sons, had purchased the asset in April 2006 as part of a $301 million, 1.9 million-square-foot office portfolio transaction involving six buildings across five states. Lincoln Property Co. is managing the property on behalf of the new owner.<\/p>\n<p>Located in the city\u2019s South Financial District submarket, the eight-story building occupies a 1.2-acre parcel a short walk from the Embarcadero BART station. Nearly 16 million square feet of Class A office space and upwards of 5,100 multifamily units fall within a quarter mile of the property, per Yardi Matrix data.<\/p>\n<p>Charles Schwab formerly occupied the entire mid-rise, though the firm subleased 311,907 square feet to Fitbit in 2016, according to the <em>San Francisco Chronicle<\/em>. In addition to the office space, the building features 21,703 square feet of retail space presently occupied by a number of restaurants, a barber shop and a yoga studio. The asset was last significantly renovated in 2000, with the previous owner, EQ Office, also expanding the structure&#8217;s floor space by 24,950 square feet.<\/p>\n<p>Clarion has made a number of high-value office acquisitions in recent years. In December, the firm paid $282 million for a <a href=\"https:\/\/www.commercialsearch.com\/news\/clarion-partners-acquires-282m-nyc-office-asset\/\">350,000-square-foot high-rise in Midtown Manhattan<\/a>.<\/p>\n<p><em>Image courtesy of Yardi Matrix<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Jack Resnick &#038; Sons sold the nearly 430,000-square-foot Class A office asset, which last changed hands as part of a 1.9 million-square-foot portfolio transaction in 2006.<\/p>\n","protected":false},"author":861,"featured_media":1004297972,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21783,21742,21747,1609,15],"tags":[36351,32790,43400,35143,32838],"class_list":["post-1004297966","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-investment","category-latest","category-office","category-san-francisco","category-west","tag-capital-improvement","tag-clarion-partners","tag-eq-office","tag-jack-resnick-sons","tag-lincoln-property-company"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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