San Francisco Museum of Modern Art Buys 412-Stall Garage in San Francisco for $41.8MM

(EDITOR’S NOTE: According to public documents, the transaction closed on Sept. 29, 2017 for $41,800,000.)

Eastdil Secured leverages online marketplace to find buyer for downtown parking garage

SAN FRANCISCO – December 18, 2017 – Ten-X Commercial, the nation’s leading online real estate marketplace, today announced that Stephen Van Dusen and Cartter Berg of Eastdil Secured leveraged Ten-X’splatform to conduct the sale of 147 Minna, an eight-story, 412-stall parking garage in San Francisco’s South Financial District. An affiliate of Stockbridge Capital Group, LLC (“Stockbridge”) was the seller and the San Francisco Museum of Modern Art was the buyer.

The parking garage was sold using Ten-X Commercial’s Offer Select solution, which closely mirrors atraditional commercial real estate transaction while leveraging technology to standardize and streamline the process entirely online. Offer Select also provides brokers, buyers, and sellers with added control and transparency, while giving the process greater certainty of close.

“This transaction demonstrates how tech-based solutions can enhance a broker’s reach and maximize returns for every kind of asset,”said Ten-X Commercial General Manager Steve Jacobs. “As the San Francisco Museum of Modern Art is directly adjacent to this garage,the museum was a logical buyer. Using our digital marketplace,they were able to engage hundreds of interested buyersacross the globe, creating a large enough market to ensure full value for the asset. The closing of this dealis proof not only of the asset’s incredible value, but also of Ten-X’s unique ability to maximize a transaction’s potential and help brokers make their market.”

For more information, please click here or call 888-770-7332.

About Ten-X Commercial
Ten-X, the parent company to Ten-X Commercial, Auction.com, and Ten-X Homes, is the nation’s leading online real estate transaction marketplace. To date, the company has sold 323,000+ residential and commercial properties totaling over $53 billion. Leveraging desktop and mobile technology, Ten-X allows people to safely and easily complete real estate transactions online. Ten-X is headquartered in Irvine and Silicon Valley, Calif., and has offices in key markets nationwide. Investors in the company include CapitalG (formerly Google Capital) and Stone Point Capital. For more information, visit Ten-X.com.

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