SAN FRANCISCO — A joint venture between Lincoln Property Co. and New York Life Real Estate Investors (NYLREI) has acquired two Class A office buildings totaling 494,552 square feet in San Francisco. The properties, 353 Sacramento Street and 600 Townsend Street, are located in the heart of the Financial District and Design District submarkets, respectively.
Located between Jackson Square and the North Financial District, 353 Sacramento is a 23-story, 284,751-square-foot office tower. The building has undergone extensive renovations since 2016, including a new lobby, upgraded elevator systems and modernized elevator lobbies and restroom renovations. Building amenities include lockers, showers and a bike room. Lincoln and NYLREI will build out a full-floor amenity center with two outdoor terraces, a fitness center, conferencing facilities and a tenant lounge in addition to move-in ready tenant speculative suites. Current tenants include Wells Fargo, Ramp, Merge and Even-up Law.
Situated in the Showplace Square submarket, the five-story 600 Townsend offers 209,801 square feet of creative office space. The property features high-end creative improvements, a significant solar project overhaul, a modernized lobby and an outdoor patio/lounge. The building is nearly fully leased by SS&C Advent and PagerDuty. Onsite amenities include a lobby, outdoor common area and secure parking.