SAN FRANCISCO—While it has been rumored for some time now, Emmes Asset Management Co. LLC has purchased 301 Howard St. here and plans to enhance and reposition the property.
The New York City-based firm, together with one of its US pension fund partners, has acquired the 23-story office building with ground floor retail is centrally located on the corner of Howard and Beale Streets in the city's South Financial District. The seller, Embarcadero Capital, was represented by Stephen Van Dusen of Eastdil Secured, and Embarcadero Realty Services will be retained to provide property management services.
The building is currently well leased but Emmes plans to reposition the asset, strengthening its appeal within the market. Major improvements will be made to the entrance, lobby and other public building areas.
JLL will handle exclusive leasing for the 307,396-square-foot office property. Wes Powell and Chris Holland of JLL have the listing.
“This is a building that over the next five years will rise in stature within this market because of its premier location and accessibility and it is exciting to be able to take the journey to the next level with an experienced and visionary owner such as Emmes Asset Management Co.,” says Wes Powell, international director at JLL.
GlobeSt.com could not obtain further information by deadline, such as sales price, etc., but will update this story as we learn more.
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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.
