News
CIM Group Expands Office Portfolio
January 6, 2017
CIM Group has expanded its office portfolio with the purchase of 55 Hawthorne St from Harvest Properties and Invesco Real Estate. The 143k SF 11-story Class-A office building in the South Financial District includes eight stories of unobstructed, open creative office space and a 275-spot, five-story parking garage. Yelp is the largest tenant with 100k SF. The sellers made significant renovations after their acquisition in 2014.
This latest buy follows on the heels of CIM Group’s purchase of 340 Townsend. CIM Group has 4.4M SF of investments in various commercial properties throughout the Bay Area. It also owns One Mission Bay, a luxury condo development in Mission Bay under construction with occupancy set for later this year.
