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250 Brannan Sells for $14M

SAN FRANCISCO-The 140,000-sf development is located within three blocks of the Giants baseball stadium in the trendy SOMA area of the city.

By Brian K. Miller | Updated on October 03, 2004

SAN FRANCISCO-Zapolski + Rudd LLC, an investment and development company with offices in Durham, NC and Napa, CA, has acquired 250 Brannan St. for $14 million. The vacant 140,000-sf development is located within three blocks of the Giants baseball stadium in the trendy SOMA area of the city.The property consists of the fully renovated 1907 brick and timber Gallo Building and the addition of another 40,000 sf of new construction and a 100-slip parking garage. The project was completed in 2000, in part for Double-Click Inc. The building is the third investment the company has made in the city in the past 18 months. The company owns the 60,000-sf 405-445 Jackson St. retail and office mixed-use building along with the adjacent parking lot. It also is an investor partner in the 70,000-sf Elevated Shops mixed use re-development of 150 Powell St.250 Brannan is the second Brannan Street building near Pac Bell Park to trade hands in recent months. In June, Olivia Cruises & Resorts paid $200 per sf for a 25,000-sf building and parking lot at 434 Brannan St. The provider of travel and entertainment for women will use the building as its headquarters.The three-story building with 8,300-sf floor plates was built in 1929 by Schilling Spices, who used it as a production facility. The building has been vacant for the past couple of years, ever since its dot-com tenant went under. The first two floors are fully built out and furnished. The third floor is in shell condition. “Leasing has been brisk in ’04 in the submarket of SOMA [and] there are few buildings left with much space that can compare to what we can offer at 250 Brannan,” says Zapolski + Rudd managing member Todd C. Zapolski. “The location, the historic feel of the old Gallo portion of the building, on site parking, the plug and play infrastructure, and the floor lay out offer many competitive advantages for prospective tenants.”

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