Industrial Complex in San Francisco’s Showplace Square Sells for $37MM

By Meghan Hall

The former home of San Francisco’s Takahashi Trading Company, located near Potrero Hill and the Design District, has been sold, according to public property records. The brick-and-mortar building, which is located at 200 Rhode Island St., has been bought by a Four Corners Properties and New York-based real estate development firm Westbrook Partners on behalf of Centerra Group for $37 million.

The four-building, 90,000 square foot industrial complex was constructed in 1912; Henri and Tomoye Takahshi, the owners of the Takahashi Trading Co., have used the property as its home base for its import-export business between Japan in the United States since the 1960s. Their daughter, Masako Takashi, sold the property on behalf of her parents and the Takahashi Charitable Foundation. According to the San Francisco Business Times, which first reported the transaction, HCM Commercial Real Estate represented Takahashi in the deal, and all proceeds from the building sale will go towards the family’s charity.

The first building of the complex was originally constructed in 1912 for a farming equipment company. The building was designed by G. Albert Lansburgh, an American architect known for his designs of luxury movie theaters on the west coast during the early 20th century. The other three buildings were constructed thereafter, and the Takahashi Trading Co. took over the property in the early 1960s.

Unlike many buildings from that era, which have been torn down to make way for Highway 101, 200 Rhode Island has withstood the test of time and now offers easy access to Showplace Square. Immediately surrounding the site are a mix of industrial businesses such as Restoration Hardware and Galleria Tile, and retailers, such as Starbucks and Whole Foods. It is also just a few minutes’ drive to both the Mission Bay and Civic Center neighborhoods.

The property was placed on the market in January of 2019. Eight bids were submitted for the property. Four Corners’ $37 million cash bid closed in a single day at the beginning of April, and the property was purchased through Westbrook Real Estate’s Fund X. According to public documents, the LLC that bought the property and is associated with Four Corners and Westbrook, is also associated with Palm Beach Gardens, Fla.-based Centerra Group, one of the world’s largest commercial companies for nuclear, federal and commercial security.

According to the company’s website, Centerra Group has performed successfully on more than 300 contracts, including those for the U.S. Department of Energy, Department of Defense, the National Aeronautics and Space Administration, individual municipalities and close to 75 commercial customers. The company offers services from facilities and fleet maintenance to construction, federal security and fire protection, and is one of the largest U.S. Government providers of its services.

West Coast Commercial Real Estate News