(EDITOR’S NOTE: According to public documents filed with the city and county of San Francisco, the deal closed for $825,999,000. The seller of the property is San Francisco-based Gerson Bakar and Associates. The Registry was the first to report the pending sale transaction in May of this year to Jamestown.)
San Francisco, CA (July 30th, 2019) – Jamestown, a leading real estate investment and management firm, today announced the acquisition of Levi’s Plaza along San Francisco’s Embarcadero waterfront. The 930,000 square foot urban complex comprises 9 buildings across 9.4 acres and is the only large-scale office complex of its kind in San Francisco’s Central Business District. Levi’s Plaza expands Jamestown’s growing footprint in the Bay Area and nearly doubles the company’s San Francisco office portfolio.
“Levi’s Plaza provides respite from the largely vertical office environment of San Francisco, its buildings and surrounding park serve as connective tissue bridging historic Jackson Square and the North Waterfront,” said Michael Phillips, President of Jamestown. “The outdoor space is rare among San Francisco workplaces, making Levi’s Plaza a desirable location to work.”
Levi’s Plaza is located in San Francisco’s North Waterfront office market and was built in 1981 by Gerson Bakar, Jim Joseph, and Alfred Wilsey as the corporate headquarters for Levi Strauss & Company. The property has evolved into a creative community with a diverse mix of tenants in the technology, advertising, media, and information sectors, and is home to more than 3,000 employees. Retail tenants include Fog City, RJ’s Market, Starbucks, Parlour 1255, and a Levi’s retail store. The property’s outdoor space was designed by renowned landscape architect, Lawrence Halprin, whose projects include Ghirardelli Square in San Francisco, UN Plaza in New York, and Sproul Plaza in Berkeley California. The property offers a shuttle service to nearby Bay Area Rapid Transit (BART) stations and is adjacent to multiple Muni transit lines.
Jamestown is a leading landlord in office, retail, and mixed-use projects across the U.S. The company’s Bay Area portfolio includes Ghirardelli Square, Waterfront Collection, Rialto on New Montgomery, Market Street assets, South Shore Center in Alameda, Fourth Street portfolio in Berkeley, and Clayton office assets in Concord. Jamestown is recognized nationally for its adaptive reuse projects including Chelsea Market in New York City, Ponce City Market in Atlanta, The Innovation and Design Building in Boston, and Industry City in Brooklyn.
This transaction was brokered by Eastdil Secured.
Jamestown, LP was established in 1983 as an investment and management company focused on income-producing real estate in the United States. Over the last 35+ years, Jamestown has grown its portfolio of assets in key markets throughout the U.S. and expanded its investment footprint to South America and Europe. Jamestown’s capabilities include: acquisitions, capital markets, property management, asset management, retail leasing, design, sustainability, and risk management. Jamestown has headquarters in Atlanta, GA and Cologne, Germany, and offices in New York, NY, Boston, MA, San Francisco, CA, Los Angeles, CA, and Bogota, Colombia. For more information, visitwww.jamestownlp.com.