Jamestown Names CAC Group As Leasing Agent for 799 Market

Downtown San Francisco asset acquired by Jamestown in October

SAN FRANCISCO (November 16, 2012) – National real estate investment and management firm Jamestown has named the CAC Group, a premier commercial real estate services company, as the exclusive leasing agent for 799 Market Street, a 142,902-square-foot mixed-use asset in downtown San Francisco. Bill Cumbelich, principal, Daphne Spieker, vice president, and John Walsh, associate, will lead the assignment on behalf of CAC. CAC has successfully represented the asset since 1999.

Jamestown acquired 799 Market in October of this year The Class-A urban retail and creative office building is situated on the northeastern corner of Market and Fourth streets, at the juncture of the South of Market (SoMa) office technology corridor and the Union Square shopping district. The firm also owns a neighboring mixed-use property consisting of two buildings at 22 Fourth Street and 801 Market.

“We’re pleased to partner with CAC in marketing this asset and cultivating a dynamic office environment that reflects the neighborhood’s booming demographics.  Bill Cumbelich and his team are pioneers in the mid-Market corridor, with a deep understanding of what technology and creative tenants need,” said Jamestown COO Michael Phillips.

Built in 1968 and renovated in 1986, the eight-story property includes five floors of creative office space, atop 55,000 square feet of retail. The office space, which is currently 89 percent leased, features 15,000 – 17,000-square-foot floor plates, tall ceilings, large windows, abundant natural light and open floor plans.

“Jamestown brings incredible creative energy and vision to this asset and the intersection of 4th and Market,” stated Cumbelich. “By creating an accessible, campus-like setting and offering employee-friendly amenities, the property will be well positioned to capture the growing demand from tenants attracted to the area’s vibrant atmosphere.”

“The top floor is currently vacant and considering imminent lease expirations, there are opportunities for tenants ranging from 15,000 to nearly 50,000 square feet,” added Cumbelich.

799 Market offers easy access to public transportation, including BART, Muni and a future Central Subway station, with a direct connection to Caltrain. It is also within walking distance of many neighborhood amenities including Sports Club LA, Metreon, Westfield Center and Yerba Buena Lane.

Jamestown
Founded in 1983 with headquarters in Atlanta, Ga. and Cologne, Germany and offices in New York City, San Francisco, Ca. and Washington, D.C., Jamestown is a leader in acquisitions and value added management. Over 29 years, Jamestown has generated approximately $8 billion in strategic investments. The company is focused across the risk spectrum with core, core-plus and opportunistic funds in two primary markets: 24-hour cities and Sunbelt territories with strong demographic growth. For more information, visit www.jamestownlp.com.

Certain statements contained herein may constitute “forward-looking statements.” Forward-looking statements involve risk and uncertainties and are inherently unreliable.  Investors should be aware that return projections and other forward-looking statements are by their nature uncertain insofar as actual realized returns, other projected results, or market conditions can change quickly based on, among other things, unexpected market movements, changes in interest rates, legislative or regulatory developments, errors in strategy execution, acts of God, and other asset-level developments.  The Company cannot assure the future results or outcome of the matters described in any of these forward-looking statements or projections; rather these statements merely reflect the Company’s current expectations and estimates of the approximate outcomes of the matters discussed.

West Coast Commercial Real Estate News