SAN FRANCISCO—Real estate investment and management firm Jamestown has acquired Waterfront Plaza, a 297,260-square-foot office complex in the North Waterfront submarket of San Francisco. The four-building asset, which was 92% occupied at the time of sale, is located along the Embarcadero, and is bounded by Bay Street to the north, Kearny Street to the west and Chestnut Street to the south.
The seller of the asset was LaSalle Investment Management. Jamestown could not disclose any financial information regarding the acquisition to GlobeSt.com however an industry source familiar with the deal puts it at around $88 million.
The two, four-story office buildings, 50 Francisco St. with 130,585 square feet and 1700 Montgomery St. with 143,350 square feet, provide large, efficient floor plates and feature floor-to-ceiling windows that offer an abundance of natural light. 1800 Montgomery St. houses the popular Hillstone restaurant and 60 Francisco features a five-story parking structure and ground-floor offices.
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