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Macromedia Acquiring Three SoMa Properties for Permanent HQ

SAN FRANCISCO-The software maker is acquiring the historic Baker & Hamilton building and two adjacent properties near its existing leased headquarters in the South of Market area for $55 million.

By Brian K. Miller | Updated on August 20, 2003

SAN FRANCISCO-Macromedia is in the process of acquiring two buildings and a parking structure across from its existing leased headquarters in the South of Market area of the city. The properties are to become the software maker’s new permanent headquarters.

The three properties are: the 210,000-sf Baker & Hamilton building at 601 Townsend St.; 625 Townsend St., a recently completed 53,000-sf building adjacent to the Baker & Hamilton building; and 650 King St., a recently completed six-story parking garage that serves these two buildings. Macromedia on Monday completed its acquisition of 625 Townsend St. and 650 King St. and expects to close on the Baker & Hamilton building before April 2004. The combined purchase price is $55 million.

The company says the acquisitions are being driven by the desire to create a permanent home for its employees and by attractive real estate prices due to current market conditions. The new facilities, which total 210,000 sf, will house Macromedia’s corporate, marketing, and research and development staffs, which will begin migrating to the new headquarters in the latter half of 2004.

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