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Metreon Shopping Mall in San Francisco Listed for Sale
JLL is marketing the leasehold interest of downtown San Francisco’s 312,592-square-foot Metreon shopping center adjacent to Yerba Buena Center for potential new owners, the San Francisco Business Times reported. The complex is 91.9% leased and dominated by anchors Target and the AMC movie theater at 135 Fourth St.
“Metreon represents a generational opportunity to acquire an iconic urban retail asset with immediate and long-term opportunities to add value and to shape the future of downtown San Francisco,” wrote JLL, in a marketing brochure.
Current owner Starwood Capital Group acquired the complex as part of a $1.1-billion deal for eight non-core U.S. shopping centers from Westfield Group in 2012. The shopping center sits leasehold land owned by San Francisco. There are 58 years left in the ground lease before it expires.
Opened in 1999, the mall’s Target and AMC anchors account for 61% of the property’s total income today, according to the Business Times.
Photo courtesy of Pacific Structures.
- ◦Sale/Acquisition
