The 1301 Sansome property is a four-story, 34,000-sf building that sits across the street from Levi Plaza, and 945 Battery St. is a five-story, 64,000-sf building. Both were originally constructed as warehouse buildings in the early 1900's. They were converted to office use and completely renovated in 1997 and 1999. The properties abut Telegraph Hill, one of the city's premiere residential neighborhoods.
The buildings are 100% occupied. The tenants are Pearson Education, Publicis Dialogue and Telephia. Pearson's parent company is Pearson PLC, the publicly traded international media company that also owns 50% of The Economist magazine. Publicis Dialogue is a publicly traded, France-based global advertising and public relations firm. Telephia is a market research firm specializing in the wireless telecommunications industry.
"It's great real estate in the historic district," Newmark principal George Mitsanas tells GlobeSt.com. "The owners were taking advantage of long-term interest rates."
Without naming names, Mitsanas describes the owners as private San Francisco-based property owners with significant real estate holdings in the area. According to California Secretary of State's office, the LLCs that acquired the properties in 1997 are managed Robert Birmingham (1301 Sansome LLC) and Paul F. Pelosi (945 Battery LLC).
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