{"id":1004688311,"date":"2023-11-02T02:50:27","date_gmt":"2023-11-02T10:50:27","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004688311"},"modified":"2023-11-02T02:54:50","modified_gmt":"2023-11-02T10:54:50","slug":"rubicon-pays-72m-for-san-francisco-office-building","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/rubicon-pays-72m-for-san-francisco-office-building\/","title":{"rendered":"Rubicon Pays $72M for San Francisco Office Asset"},"content":{"rendered":"
\"The<\/a>

The Townsend Building, converted in 2000 from industrial use, is home to Paybal, Braintree and Al Jazeera America, among others. Image courtesy of CommercialEdge<\/em><\/p><\/div>\n

Rubicon Point Partners<\/strong> has purchased The Townsend Building, a 137,000-square-foot office property in San Francisco, for $72 million. CBRE Investment Management<\/strong> sold the asset, according to CommercialEdge data.<\/p>\n

CBRE IM previously acquired the property three years ago from Manchester Capital Management for $132.6 million, the same source shows.<\/p>\n

Converted in 2000 from its initial industrial use to office, the property underwent another major renovation in 2004. The six-story building features a fitness center, three passenger elevators, parking spaces and controlled access. The LEED Silver certified<\/a>, transit-oriented and brick and timber building is home to companies including Paypal, Braintree, Samba TV, Al Jazeera America, Reflektive and Quizlet, CommercialEdge also shows.<\/p>\n

\n

READ ALSO<\/strong>: Rubicon Point Closes $232M Commingled Fund<\/a><\/p>\n

\n

Located at 123 Townsend St. directly across the Embarcadero from Oracle Park, the property is situated in a neighborhood with an abundance of retail centers. The Townsend Building is within walking distance of the San Francisco Caltrain station and the Muni Central Subway, providing convenient transit access.<\/p>\n

\n

The acquisition of The Townsend Building is part of the woman- and minority-owned private real estate investment and operating company\u2019s strategy to invest in high-quality properties on the West Coast.<\/p>\n","protected":false},"excerpt":{"rendered":"

The building last traded in 2020, for almost double the current price. <\/p>\n","protected":false},"author":3014,"featured_media":1004688623,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,21742,21747,1609,15],"tags":[51764,32779,34046,33438],"class_list":["post-1004688311","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-latest","category-office","category-san-francisco","category-west","tag-cbre-investment-management","tag-leed","tag-manchester-capital-management","tag-rubicon-point-partners"],"acf":[],"yoast_head":"\nRubicon Pays $72M for San Francisco Office Asset - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Rubicon Point Partners has purchased The Townsend Building, a 137,000-square-foot office building in San Francisco, for $72 million.\" \/>\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\/rubicon-pays-72m-for-san-francisco-office-building\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Rubicon Pays $72M for San Francisco Office Asset\" \/>\n<meta property=\"og:description\" content=\"Rubicon Point Partners has purchased The Townsend Building, a 137,000-square-foot office building in San Francisco, for $72 million.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/rubicon-pays-72m-for-san-francisco-office-building\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2023-11-02T10:50:27+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-11-02T10:54:50+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/11\/Townsend-Building.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"640\" \/>\n\t<meta property=\"og:image:height\" content=\"512\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Diana Firtea\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/rubicon-pays-72m-for-san-francisco-office-building\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/rubicon-pays-72m-for-san-francisco-office-building\/\",\"name\":\"Rubicon Pays $72M for San Francisco Office Asset - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/rubicon-pays-72m-for-san-francisco-office-building\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/rubicon-pays-72m-for-san-francisco-office-building\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/11\/Townsend-Building.jpg\",\"datePublished\":\"2023-11-02T10:50:27+00:00\",\"dateModified\":\"2023-11-02T10:54:50+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/a0c04b9de1387474e28c9ebdb0444e59\"},\"description\":\"Rubicon Point Partners has purchased The Townsend Building, a 137,000-square-foot office building in San Francisco, for $72 million.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/rubicon-pays-72m-for-san-francisco-office-building\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/rubicon-pays-72m-for-san-francisco-office-building\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/rubicon-pays-72m-for-san-francisco-office-building\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/11\/Townsend-Building.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/11\/Townsend-Building.jpg\",\"width\":640,\"height\":512,\"caption\":\"The Townsend Building, converted in 2000 from industrial use, is home to Paybal, Braintree and Al Jazeera America, among others. 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