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TMG Partners Buys Soma Square Buildings

SAN FRANCISCO-The locally based investment group pays $46 million for two similarly sized adjacent buildings on Howard Street with a combined 300,711 sf net rentable.

By Brian K. Miller | Updated on February 20, 2007

(For more retail coverage, click GlobeSt.com/RETAIL.)

SAN FRANCISCO-Locally headquartered TMG Partners has acquired two adjacent buildings on Howard Street from a fund of ING Clarion Partners for $46 million. Located at 875 Howard and 899 Howard, the low-rise buildings known as Soma Square were built in the first half of the 20th Century and renovated in 2000.

The 153,140-sf four-story building at 875 Howard is leased to the California Academy of Science. The three-story, 147,571-sf building 899 Howard houses a Burlington Coat Factory store. The retailer is on a flat, long-term lease that runs through 2013, not including two five-year options.

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