Jackson Square/North Waterfront Building Home to Design, Media and Other Creative Tenants
San Francisco, CA – January 7, 2013 — The Swig Company today completed the purchase of 901 Battery Street, an 88,668 square foot office building with an accompanying parking structure located at 998 Sansome Street. The seller was a partnership that had owned the property for several decades. Terms of the transaction were not disclosed.
Brokers Tony Crossley and Erik Hanson of Colliers International represented the seller in the transaction. HSBC Bank, represented by Mee Mee Kiong and Peter Nelson, provided acquisition financing.
901 Battery is a 4-story plus basement, 88,668 square foot office building, located in the Jackson Square-North Waterfront submarket. It was constructed in 1927 as a manufacturing and distribution warehouse for the Petri Cigar Company and was later the home of Manning Bakery. Today it caters to several creative design, media and public relations firms including KMD Architects, Viscira, MediaOne, Fox News and New Deal Design. The building is fully leased.
“We are excited to own another great creative office building in the Jackson Square/North Waterfront submarket,” said Tomas Schoenberg, Director of Investments for The Swig Company. “The North Waterfront has proven to be a resilient and vibrant submarket for long established media, design and public relations firms, and has lately attracted up-and-coming creative and tech tenants typically associated with the SOMA submarket. This building offers very high volume creative space with great natural light, operable windows and wonderful views – all of which appeal to a broad array of tenants in today’s market,” he added.
This is The Swig Company’s second purchase in the North Waterfront market in recent years. Earlier this year, in partnership with Angelo Gordon, the company sold One Beach Street, a property it had acquired in April 2008.
About The Swig Company
The Swig Company, LLC, headquartered in San Francisco, is a private investment company with a 75-year history of investment, re-positioning, development and management of commercial real estate properties in major gateway, coastal markets throughout the United States. The Company’s diversified portfolio includes urban office buildings and multi-family apartments. The Company no longer invests in hotels. The Swig Company pursues a moderate growth strategy and co-invests with like-minded investment partners in supply-constrained urban environments. The Swig Company is the active day-to-day manager for its California portfolio on behalf of its investors, providing investment, pro-active asset management, redevelopment, selective development and professional high quality property management services. For more information, please visit http://www.swigco.com