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$20M Buys 93,000-SF Design Pavilion

SAN FRANCISCO-The multi-tenant showroom at 200 Kansas St. was purchased as an investment by the Chang Income Property Partnership.

By Brian K. Miller | Updated on November 22, 2004

SAN FRANCISCO-Chang Income Property Partnership has acquired the Design Pavilion, a 92,759-sf multi-tenant showroom catering to the design industry. The seller was 200 K LLC. The sale price was about $20 million, according to Colliers International, the brokerage firm in the transaction.The building is open to trade-members only (i.e. interior designers, contractors, etc.). There are approximately 20 shops/showrooms in the building. Information on the building’s vacancy was not immediately available, but is believed to be minimal.Tim McClean and Tim Maas of Colliers International represented both the buyer and seller in the transaction. “Well-leased properties or assets…are currently in high demand,” says McClean. “This trend was extremely evident in the ‘pavilion’ deal, as a number of offers were generated for the property in a short period of time demonstrating the strength of the market in all product types for premier, well leased assets. “A year and a half ago, this property would have sold for less than $15 million. It was great timing for the seller, as well as the buyer–given the low interest rates.”

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