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Mid-Rise Office Building in San Francisco's Van Ness Corridor Trades in $49 Million Deal

Columbia Pacific, Long Market Property Partners Sell Renovated Space to Seavest
June 12, 2018
Seattle-based Columbia Pacific Advisors and San Francisco-based Long Market Property Partners have sold their newly renovated office building at 939 Ellis St. in San Francisco to Seavest Investment Group for $49 million, or about $562 per square foot.

The venture completed renovations last year on the 87,190-square-foot, seven-story building in San Francisco’s Van Ness Corridor. Formerly home to the Bay Area Air Quality Management District, which moved out of the building following its sale of the property to Columbia Pacific in 2014, the 1960s-era property received base building improvements and features a 4,460-square-foot patio roof deck, meeting spaces and a parking garage.

Kyle Kovac, Michael Taquino, Daniel Cressman and Mandy Lee of NKF Capital Markets' San Francisco office brokered the deal for the selling venture, while Seavest Investment group represented itself with assistance from Meridian.

Wes Powell, John Norton and Charlie Hanafin of JLL are currently handling leasing for the property.

Please see CoStar COMP #4288584 for more information on this transaction.
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