JV Sells Jackson Square Office
The Swig Co. and Medley Partners sold 901 Battery in San Francisco to Shorenstein Co. The roughly 90K SF creative office building and adjacent parking structure are in the North Waterfront-Jackson Square submarket. The terms of the transaction were not disclosed. This latest acquisition falls close behind Newcastle Partners’ purchase of a Jackson Square office in a JV with Drake Real Estate Partners during the summer.
The Swig Co. and Medley Partners JV purchased 901 Battery in December 2012 for $22M and repositioned the four-story building as an institutional-quality asset in a submarket with a growing creative tenant population.
The Swig Co. executed a seismic retrofit, renovated the lobby and facade and upgraded each tenant floor. The renovated building features large, open floor plates, abundant natural light and high ceilings. Tenants include Viscira and architectural firms BAR and KMD.
Newmark Knight Frank Executive Managing Directors Kyle Kovac, Michael Taquino and Daniel Cressman and Associate Director Mandy Lee arranged the sale on behalf of the sellers.
