Clint Reilly Announces Acquisition of 235 Pine Street in San Francisco

Clint Reilly Landmark Properties, Merchants Exchange, Financial District, 235 Pine Street, CBRE Global Investors, San Francisco, Skidmore Owings & Merrill

(EDITOR’S NOTE: According to a May 22, 2018 report by The Registry, the sale was for $129 million, or $784 per square foot.)

Firm adds 164,405 square feet of Skidmore-designed, Class A space to portfolio.

SAN FRANCISCO, June 29, 2018 – Clint Reilly Landmark Properties, owner and operator of the historic Merchants Exchange and other Financial District buildings, has announced the purchase of 235 Pine Street—a marquee central Financial District property designed by Skidmore, Owings & Merrill—from CBRE Global Investors. The purchase expands Reilly’s Financial District footprint by more than 47%, adding 164,405 square feet of LEED Gold, Class A space to the firm’s portfolio. The deal was announced by Clint Reilly, chairman, president and owner of the purchasing firm.

“235 Pine Street is a best-in-class asset and I’m thrilled to add it to my portfolio,” said Clint Reilly. “CBRE Global Investors did a superb job of renovating an already extraordinary building. It’s a modern icon that fits perfectly alongside the Merchants Exchange and our other local assets, while also marking a significant evolution of our portfolio.”

Clocking in at 25 stories, 235 Pine Street is LEED-gold certified and features 8,500 square-foot column-free floor plates and four levels of on-site parking. The building features a wide range of amenities that rival some of the most advanced buildings in San Francisco, including state-of-the-art conference center facilities, a tenant lounge, bike racks, showers and locker rooms, electric vehicle charging stations and more. CBRE Global Investors bought the building in 2014 for $88 million and subsequently spent more than $13 million upgrading the asset.

“235 Pine Street is one of the top boutique assets in San Francisco,” explained CBRE’s Meade Boutwell, the building’s leasing agent. “It has enjoyed strong leasing momentum due to its premier amenities that rival some of San Francisco’s leading office towers and a desirable floor plate size that provides strong identity to tenants of all sizes. It is home to a diverse roster of tenants, including ApplePie Capital, Associated Space Design, Empire Distribution, StarCard, Cardno ChemRisk and MIT Technology Review.”

235 Pine Street boasts four sides of window lines that provide abundant natural light and remarkable cityscape views. Built in 1990 by Skidmore, Owings & Merrill—the world-famous architectural firm responsible for the Burj Khalifa in Dubai, One World Trade Center in lower Manhattan, Willis Tower in Chicago and 555 California Street in San Francisco—235 Pine Street’s wide-open floorplates are perfectly aligned with the creative space demanded by technology firms driving the San Francisco leasing market.

About Clint Reilly Landmark Properties
Clint Reilly Landmark Properties is a privately held, full-service real estate development, investment and management firm based in San Francisco. Founded in 1995 by Chairman Clint Reilly following his career as a political strategist, the company acquires and manages a carefully curated portfolio of office, hospitality and mixed-use properties. Key San Francisco assets include the Merchants Exchange (465 California St.), 235 Pine Street, the Little Fox Theater (535 Pacific Ave.), Leidesdorff Place (340 Pine St.) and the Credo Building (360 Pine St.).

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