Former headquarters of the Standard Oil Company
SAN FRANCISCO, Calif. Jan. 15, 2013— Jones Lang LaSalle’s Capital Markets experts today announced the firm is marketing for sale 115 Sansome Street, a historic “jewel box” office building located in the heart of San Francisco’s Financial District. The 15 story, 126,716-square-foot building was constructed in 1912 as the headquarters of the Standard Oil Company.
Managing Directors Rob Hielscher and Mike Seifer and Vice President Aaron Herter areleading the Jones Lang LaSalle team on this transaction.
“This offering provides an investor the rare opportunity to acquire a premier boutique landmark property in the heart of San Francisco’s CBD, the strongest office market in the country” said Rob Hielscher. “115 Sansome offers an investor the combination of stable in-place income with significant upside potential via the leasing of vacant space and rolling existing leases to market rates.”
115 Sansome is located a half block off of Market Street at the confluence of San Francisco’s North and South Financial Districts, near the Montgomery BART and MUNI stations, Interstate 80/Bay Bridge and Highway 101. An exquisite example of turn-of-the-century Beaux-Arts style, 115 Sansome’s storied place in San Francisco’s history has made it one of the City’s most well-known landmark properties.
Jones Lang LaSalle Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether a sale, financing, repositioning, advisory or recapitalization execution. In 2011 alone, Jones Lang LaSalle Capital Markets completed $60 billion in investment sale and debt and equity transactions globally. The firm’s dealmakers completed $52 billion in global investment sales and buy-side transactions, equating to nearly $216 million of investment trades completed every working day around the globe. In the United States, Jones Lang LaSalle grew its total Capital Markets volumes by 122 percent in 2011 and is quickly gaining market share across all property types. The firm’s Capital Markets team comprises more than 1,200 specialists, operating all over the globe.
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About Jones Lang LaSalle
Jones Lang LaSalle (NYSE: JLL) is a financial and professional services firm specializing in real estate. The firm offers integrated services delivered by expert teams worldwide to clients seeking increased value by owning, occupying or investing in real estate. With 2011 global revenue of $3.6 billion, Jones Lang LaSalle serves clients in 70 countries from more than 1,000 locations worldwide, including 200 corporate offices. The firm is an industry leader in property and corporate facility management services, with a portfolio of approximately 2.1 billion square feet worldwide. LaSalle Investment Management, the company’s investment management business, is one of the world’s largest and most diverse in real estate with $47 billion of assets under management. For further information, please visit www.joneslanglasalle.com.