High-rise commercial buildings

Sub Markets

Property Sectors

Topics

California CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

New call-to-action
California  + Bay Area  + Retail  | 

Ferry Building Ground-Lease Sale Expected to Exceed $300M

New York-based Blackstone is looking to sell San Francisco’s iconic Ferry Building a decade after it acquired the waterfront asset as part of the $39-billion deal with Equity Office Properties Trust. The transaction involves the remainder of a 66-year ground lease with the Port of San Francisco, which must approve the transfer, and could exceed $300 million.

Ferry Building Investors, a joint-venture between Equity Office, local developer Wilson Meany Sullivan, Primus Infrastructure and Banc of America Historic Capital Assets, completed a $100-million revitalization of the 1898-era Ferry Building in 2003. Considered one of San Francisco’s most recognized and cherished landmarks, the transformed Ferry Building sits at the foot of Market Street along the Embarcadero.

The property includes 175,000 square feet of office and 65,000 square feet of retail. The ground lease holder pays $1.6 million in annual rent to the Port.

Eastdil Secured is handling the ground lease sale.

For comments, questions or concerns, please contact Dennis Kaiser

Connect

Inside The Story

Read more at San Francisco Business TimesConnect With Equity OfficeConnect With Eastdil Secured

About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Sale/Acquisition
  • ◦Lease
New call-to-action
New call-to-action
New call-to-action
New call-to-action
New call-to-action