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California  + Bay Area  + Office  | 

Heitman Buys Newly-Built 500 Pine for $73M

Chicago-based Heitman LLC acquired 500 Pine, a newly-constructed trophy office building in downtown San Francisco, on behalf of an affiliate of the firm for $73 million. The seller of the 56,179-square-foot North Financial submarket asset was a partnership between Pasadena, CA-based Gemdale USA Corporation and Dallas-based Lincoln Property Company.

Completed in 2017, 500 Pine is a LEED Gold Certified office asset featuring state-of-the-art creative office improvements with open floor plans, floor-to-ceiling window lines, a rooftop balcony, and on-site parking with a bike room and showers. The five-story, fully-stabilized building is 100% leased to CVS and Blend. The property sits at the corner of Pine and Kearny Streets in the heart of San Francisco’s CBD.

HFF’s Michael Leggett, Gerry Rohm, Ben Bullock, David Dokko and Thomas Foley represented the seller.

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About Dennis Kaiser

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 including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as 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, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

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