SAN FRANCISCO — BH Properties has acquired Anchorage Square, a 322,000-square-foot mixed-use property located in Fisherman’s Wharf in San Francisco. The seller and price were not disclosed.
Built in 1974 and situated on 2.6 acres, the development features 63,000 square feet of retail space, as well as a 128-room hotel, 28,000 square feet of office space and a 685-space parking garage.
The buyer plans to implement an extensive capital improvement program, which will include upgraded façades, landscaping, lighting, signage, wayfinding and tenant and common areas. The firm will also explore alternative uses for the office space such as restaurant and entertainment options.
Eastdil Secured brokered the transaction, and Laura Barr of CBRE will lead the repositioning and leasing efforts at the property.