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Urban Land Development Acquires Union Square Asset
San Francisco-based Urban Land Development (ULD) acquired 150 Post St. in San Francisco’s Union Square area in a joint venture with Urban Land Capital, and Meyer Corporation. The seller in the reportedly $94-million deal was a joint venture of New York-based Madison Capital and an unnamed institutional real estate advisor.
The seven-story building comprises 117,435 square feet of office space with ground-floor retail, including Shreve & Co. Jewelers. The building was built in 1908 and structurally renovated in 2003. ULD will embark on a transformative repositioning of the building interior by uncovering the 14- to 15-foot concrete slab-to-slab ceiling heights, reconfiguring suites to occupy half or full floors of up to 14,000 square feet, and creating an open office floor plan.
Urban Land Development’s Jon Mayeda says, “Through immediate renovations to the property, transforming the office space to a high-end creative office, we will create a more open, and thus desirable, workspace for companies seeking flexibility.”
Cushman & Wakefield’s Kazuko Morgan brokered the deal.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition




