SAN FRANCISCO-The Cannery, a 98,983-square-foot mixed-use building in San Francisco’s Fisherman’s Wharf district, has changed hands. The property was purchased for $20.58 million free and clear of debt.
Holliday Fenoglio Fowler marketed the property on behalf of the seller. Although HFF tells GlobeSt.com that it cannot disclose the buyer or seller’s names at this time, an unidentified source not involved in the deal tells GlobeSt.com that the buyer was the Academy of Art University and the seller was CW Capital Asset Management.
The iconic property was aggressively pursued resulting in over 25 offers to purchase, according to HFF. The HFF team representing the seller included directors Samuel Brownell and Nicholas Bicardo and senior managing director Michael Leggett.
Originally developed in 1907 as the world’s largest peach cannery, the property has operated as a multi-level mixed-use center for the last 50 years. The Cannery was extensively renovated in 2001 and includes two, three-story office and retail buildings.
Located at 2801 Leavenworth St., the 1.29-acre site is situated in the heart of San Francisco’s Fisherman’s Wharf district, which attracts more than 16 million visitors annually and is ranked as one of the top five destinations nationally, according to a prepared statement.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
