36,000 SQFT Retail Asset in San Francisco Trades for $19.3MM

1200 Larkin Street San Francisco Lockehouse Paceline Investors Sterling Organization retail

SAN FRANCISCO– February 28, 2022: The Lockehouse Retail Group today announced the $19.3 million ($536 per square foot) sale of 1200 Larkin Street, a 36,000-square-foot flex space located in San Francisco’s Polk Street Neighborhood Commercial District. 

Lockehouse Retail Group’s Kurt Grundman represented the buyer, The Sterling Organization, in the transaction. The seller was Paceline Investors LLC. 

“We’re pleased to have found this exceptional investment opportunity for our client,” Grundman said. “San Francisco is an incredibly competitive market and securing this asset that is centrally located, close to ample amenities — and has quick and reliable access to several main transit arteries — makes it a smart investment with long-term ROI potential for our client who strategically invests in last-mile real estate.” 

The two-story flex space building is ideal for commercial use, boasting two 12’ x 14’ heavy power, automated drive-in roll-up doors, large floor plates to accommodate full floor usage as well as ceiling heights ranging from 15 feet to 28 feet high. 

Additionally, the property is in proximity to ample transit connectivity options including a Muni bus stop directly outside the building and cable car access just two blocks north that provides transit to the Financial District, Market Street, Union Square and Fisherman’s Wharf. It also offers access to the Van Ness Corridor just three blocks away, providing direct vehicular access to the Golden Gate Bridge and Marin County, as well as East Bay and Silicon Valley via 101 South and Interstate 80 and 280. 

Located in the desirable Nob Hill neighborhood, the property is centrally located within the land-constrained Bay Area and is close to ample amenities including restaurants, bars, hotels, and city parks. 

Sterling Organization is a private equity real estate firm whose national platform is focused on investing in last-mile consumer fulfillment and distribution real estate assets across major markets within the United States. 

About Lockehouse Retail Group 

Lockehouse Retail Group is a premier full-service commercial real estate firm, specializing in retail. It is our mission to deliver exceptional value and service to our clients, investors, and community. Our team of expert professionals provides unmatched real estate solutions across landlord representation, investment sales, property management, development services, and restaurant/retail consultation. To learn more about Lockehouse Retail Group, visit us at www.lockehouse.com and follow us at @lockehouserg on Instagram and Facebook. 

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