The Presidio Trust, the federal agency that oversees the national landmark at the foot of the Golden Gate Bridge, has chosen Cushman & Wakefield to serve as the property manager for its 2M SF commercial real estate portfolio.
Cushman & Wakefield's Northern California asset services arm was tapped by the Trust's board to handle lease administration, tenant relations and other tenant services, according to a report in the San Francisco Business Times.
C&W's contract began on Dec. 1. Western Region Executive Director Sandra Boyle, Northern California Senior Managing Director Marsha Ramsey and Northern California Director Nicole price are leading property management at the firm at the 1,500-acre Presidio, the report said.
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The Presidio Trust will continue to handle new leasing and building maintenance in house. The Trust and its partners occupy an additional 400K SF at the national park.
The Presidio, a former US Army base, became a national park in 1994. The former military barracks and warehouses now encompass almost 2M SF of leasable commercial space.
The park now includes 180 tenants including the entertainment giant Lucasfilm, which resides in the Letterman Digital Arts Center. Other tenants include financial services, retail and venture capital companies.
The Presidio Trust, which has brought about 400K SF of space online for leasing since 2021, announced this week that it expects to put another 150K SF of space on the market including 1180 at Crissy Field, a seven-building complex; a 43K SF building at 102 Montgomery Street; and 40 Keyes Avenue, an 8,300 SF property.
Presidio Trust Commercial Leasing Manager Mark Zuffo told the Business Times that the agency's portfolio is 94% leased.
The portfolio at the national park previously was managed by RiverRock Real Estate Group, a Southern California firm whose 10-year contract expired this year.
Following the devastation of the Doyle Drive section of the Highway 101 approach to the Golden Gate Bridge in the 1989 Loma Prieta earthquake, a spectacular enclosure for the new roadway was constructed.
Known as Presidio Tunnel Tops, the elevated perch over the highway tunnels connects the Presidio with the Bayfront, offering spectacular views of the National Historic Landmark.
The Presidio also was the location for a 1988 film starring Sean Connery, which involved a convoluted plot involving a San Francisco police detective assigned to work on a series of murders with his former enemy commanding officer, while dating the guy's daughter.
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