Jun. 20, 2011 (Business Wire) — Harvest Properties, a commercial real estate investment and development firm based in Emeryville, today announced it has purchased 115 Sansome Street in San Francisco’s northern financial district.
Harvest bought the notable office building with a joint venture partner from The Swig Co. LLC and Angelo, Gordon Co. for an undisclosed sum. Tony Crossley and Tim Maas with Colliers International were the listing team on the transaction. Harvest Properties will serve as the property management company, with the CAC Group’s Charlie Withers and Ken Churich representing Harvest as listing agents.
Designed in the late 19th century French Beaux Arts style by Benjamin Greer McDougall as one of two original headquarter buildings of the Standard Oil Company, 115 Sansome St. was completed in 1912.
The prominent corner building at Sansome and Bush Streets consists of 14 stories and a penthouse, lower level and mezzanine and features 128,838 rentable square feet located in the heart of San Francisco’s prominent North Financial District. The property benefits from excellent access to freeways and public transportation, including BART, MUNI, cable car, the light rail system and ferries, with a BART/MUNI station within one block of the building.
The building exterior and ornate jewel box lobby includes original period architectural character and vintage detailing, high ceilings, copper trimmed operable windows and abundant window-line with frontage on Sansome Street, Bush Street and Treasury Place. Additionally, 115 Sansome Street has received a consistently high Energy Star rating since 2008.
Harvest Properties’ plans for 115 Sansome Street include removing the buildings’ traditional tenant improvement finishes on a speculative basis and, working with local architect Hooks ASD and general contractor RN Field, developing creative space highlighting its historic features and building out non-traditional, “un-corporate” floor plans in an effort to attract tenants seeking the type of office space more typically found South of Market.
“With 115 Sansome Street, Harvest offers tenants seeking non-traditional floor plans an attractive alternative to Class A office or commodity space in a highly desirable location,” said John Winther, founder and managing partner of Harvest Properties. “The buildings’ 9,000 square-foot floor plates subdivide well for small- to mid-sized tenants – perhaps appealing to the start-up, high-tech or younger companies interested in an open workspace environment with a retro feel and a great address.”
About Harvest Properties
Founded in 2002, Harvest Properties is a leading full service commercial real estate investment firm specializing in acquiring, developing, managing and financing commercial property, primarily through joint-venture investments in northern California. Harvest Properties strives to generate attractive returns for its financial partners and provide creative real estate solutions and outstanding service.
Harvest Properties portfolio consists of more than eight million square feet of office, industrial, RD and retail properties in the San Francisco Bay Area. For more information, please visit www.harvestproperties.net.
For Harvest Properties
Julie Wellik, 415-472-3878
jwellik@pacbell.net
or
Harvest
Properties
Sarah Irving, 510-594-2050, ext. 113
Partner