SAN FRANCISCO — Jamestown has acquired Waterfront Plaza, a 297,260-square-foot office complex in the North Waterfront submarket of San Francisco, for a reported $88 million. The four-building property is located along the Embarcadero. It is bound by Bay Street to the north, Kearny Street to the west and Chestnut Street to the south.
The transaction includes two office buildings, a 130,585-square-foot building at 50 Francisco Street and a 143,350-square-foot building at 1700 Montgomery Street. It also includes a space occupied by Hillstone restaurant at 1800 Montgomery Street, as well as a five-story parking structure and ground-floor offices at 60 Francisco.
Waterfront Plaza currently has 40 tenants. Notable employers include Giant Creative Strategy, Comcast of California Inc., Advance Magazine Publishers, HQ Global, Weisscom Partners and Andre-Boudin. Jamestown plans to add more tenant amenities and design features to this dog-friendly complex.
The asset was acquired by the Jamestown Premier Property Fund, the firm's flagship core and core-plus investment vehicle for institutional investors. The seller, LaSalle Investment Management, was represented by Eastdil Secured.