Jackson Square Property Fetches $19M

SAN FRANCISCO-Zapolski + Rudd, a Durham, NC-based real estate investment firm with offices in Napa, CA, has acquired four connected buildings in the heart of the city’s historic Jackson Square for $18.8 million.

Located at 400-445 Jackson St., one block north of the well-known Transamerica building, the properties represent the company’s first major purchase in the city. Richard Johnson and Dan Cressman of Grubb and Ellis brokered the Jackson Square transaction.

The four separate buildings were completely renovated and interconnected in 2000. Original construction dates ranges from 1857 to 1861 and represents some of the city’s oldest commercial buildings. One of the buildings, 415 Jackson St., once served as the Ghiradelli Chocolate factory until that operation moved to its current location on the waterfront.