SAN FRANCISCO-The historic 115 Sansome St. building, otherwise known as the former headquarters of the Standard Oil Co., is up for sale. Although sources involved tell GlobeSt.com that they cannot put a price on it at this time, unidentified sources not involved say it should attract bids in the range of $400 per square foot or $50 million.
Jones Lang LaSalle's capital markets are marketing for sale. The 15 story, 126,716-square-foot building was constructed in 1912 as the headquarters of the Standard Oil Co.
Managing directors Rob Hielscher and Mike Seifer and VP Aaron Herter are leading the team on the transaction.
115 Sansome is located a half block off of Market Street at the confluence of San Francisco's North and South Financial Districts, near the Montgomery BART and MUNI stations, Interstate 80/Bay Bridge and Highway 101. “This offering provides an investor the rare opportunity to acquire a premier boutique landmark property in the heart of San Francisco's CBD, the strongest office market in the country” says Hielscher. “115 Sansome offers an investor the combination of stable in-place income with significant upside potential via the leasing of vacant space and rolling existing leases to market rates.”
GlobeSt.com will update this story as more information becomes available.
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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.
