Swift Real Estate Partners acquired a pair of San Francisco assets for a combined purchase price of $85 million. The properties include the historic Sharon Building at 55 New Montgomery St. (pictured), and 101 Utah St., a 74,000-square-foot light industrial building.
Swift bought the eight-story, 100,183-square-foot Sharon Building, home to the popular House of Shields bar, from an undisclosed private owner for $64.25 million. The building, constructed in 1912, was fully-leased to nearly 80 tenants when it came to market. It will be renovated and rebranded as 55 New Montgomery.
CBRE’s Mark Geisreiter handled the Sharon Building sale, while CBRE’s Mike Walker secured an acquisition loan.
The 50% occupied industrial property houses the Jewelry Center in the Showplace Square District, and was bought for $21 million. Swift’s value-add plans include repositioning the asset into a “modern, creative workspace.”
Dennis Kaiser is Vice President of Content and Public Relations for
Connect Commercial Real Estate. Dennis is a communications
leader with more than 30 years of experience.
Email the Author
Reach over 250,000 Commercial Real Estate Professionals with Connect
Connect CRE reaches the top commercial real estate players nationwide and across all property types, offering you a variety of ways to showcase your team, your expertise and your brand to CRE decision makers.
ConnectCRE.com
The home for CRE news and everything you need to stay informed on deals, trends, and transactions, providing a platform to get your brand in front of your target audience.
Daily CRE Emails
Reaching over 150,000 inboxes across the nation every day, Connect’s Daily News emails provide advertising opportunities specific to your market.
Bi-Weekly Property Sector Emails
Focus your advertising on emails dedicated to your property sector and stay visible to current and potential clients.
Content Marketing
Position your team as experts in your field with content created by Connect’s editorial team and published on Connect’s news emails. Showcase your intelligence and broaden your reach.
