SAN FRANCISCO—Investment firm Jamestown has sold Pacific Place, a 430,000-square-foot, LEED Gold-certified office and retail property located at 4th and Market streets in downtown San Francisco. Situated at the dynamic nexus of the Union Square, South of Market, and Financial District neighborhoods, the project is comprised of three adjacent properties, including approximately 200 feet of Market Street retail storefront, 16 floors of office space, and a five-floor, 198-room, luxury boutique hotel. The terms of the transaction were not disclosed.

The 202,000-square-foot office portion of the property was leased in its entirety late last year by Intuit, Inc., after a repositioning of the building by Jamestown and is the current home of Demandforce, a division of Intuit's Small Business Division. Jamestown added a youthful vibrancy to the property by creating an environment with desired amenities such as outdoor terraces and a dog- and bike-friendly work space, including an onsite bike room and bike repair station. The enhancements also included a major renovation of the lobby to feature a living green wall, water element with digital media, and a fully operational coffee bar and cafe concept by Small Foods, in addition to other services.

“The great collaboration with our team allowed us to position Pacific Place as a dynamic retail and office asset,” said Jamestown COO Michael Phillips. “The addition of a signature tenant like Intuit and its long-term lease created an attractive investment for a buyer,” he added, emphasizing, “we remain committed to the San Francisco Bay Area as we are very engaged in the community through our other local properties.”