Colliers Sells 1161 Mission Street

San Francisco, August 15, 2012 – Colliers International Investment Services Group represented Tetsuo Commercial Investment Group in the sale of 1161 Mission Street in San Francisco to Downtown Properties Holdings.  Located in the heart of Midmarket, or Midma’s recent flurry of activity, the property is two blocks from Twitter’s headquarters, steps from Dolby’s new headquarters at 1275 Market, and luxury apartments SOMA Grand (246 units) and Trinity Plaza (1,900-units).

“We are happy to be participating in the current influx of investment activity currently taking place in the Midmarket District of San Francisco. This transaction is a great example of the diversity of capital that is targeting this segment of the market,” said Frank Wheeler, Senior Vice President of the Colliers Investment Services Group.

1161 Mission Street is Downtown Properties Holdings third acquisition in San Francisco and its first investment in the Midmarket submarket.  The company currently owns 300 Montgomery Street and 550 Montgomery Street in the North Financial District.

Originally built in 1926, 1161 Mission Street is a 68,745 square foot; 5-story plus penthouse office building with ground floor retail that has been extensively-renovated with a highly-creative build outs. The building has attracted a range of tenants exploring Midma options. “We’ve had a ton of touring activity on the property, and not just from technology tenants,” said Mike Monroe, Senior Vice President of Colliers International, “we are trading paper on nearly every opportunity in the building, from tenants in the professional service industry to venture capital firms.”

Frank Wheeler, Tony Crossley, and Erik Hanson of Colliers’ San Francisco Investment Services Group represented the Seller.  Since 1997, the team has handled 40% of the total sales of San Francisco properties valued between $5 million and $50 million.  The team has a track record of $4 billion in sales comprised of over 300 downtown San Francisco properties, including 25 major development sites.

Colliers International’s SOMA Team, consisting of Senior Vice Presidents Mike McCarthy, Mike Monroe, and Vice President, Brian McCarthy, has been retained as the building’s leasing agents.

About Colliers International
Colliers International is the third-largest commercial real estate services company in the world, with over 12,300 professionals operating out of more than 520 offices in 62 countries. A subsidiary of FirstService Corporation (NASDAQ: FSRV; TSX: FSV and FSV.PR.U), it focuses on accelerating success for its clients by seamlessly providing a full range of services to real estate users, owners and investors worldwide, including global corporate solutions, brokerage, property and asset management, hotel investment sales and consulting, valuation, consulting and appraisal services, mortgage banking and research. Commercial Property Executive and Multi-Housing News magazines ranked Colliers International as a top U.S. real estate company. The latest annual survey by the Lipsey Company ranked Colliers International as the second-most recognized commercial real estate firm in the world.

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