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CIM Group Divests Historic San Francisco Building for $131M
Los Angeles-based CIM Group sold One Tehama, a five-story creative office building totaling roughly 98,600 square feet in San Francisco’s South Financial District for reportedly $131 million. The recently updated creative office building located at 246 1st St. is fully leased to SoFi.
CIM acquired the property in 2014 and subsequently renovated the building, which included adding a floor by converting and expanding the first-floor mezzanine level to an entire floor. It also built a roof top deck, which provides city skyline and Bay views; and activated the basement level into occupiable space.
Built in 1929, One Tehama is on the California Historic Register and was designated by the San Francisco Planning Department as a Category I (Significant) Historic Structure. The building has Art Deco accents on the façade and features 13- to 14-foot tall ceilings on the upper levels, with an original 20.5-foot-tall ceiling on the ground floor.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition


