115 Sansome St.

SAN FRANCISCO—Constructed in 1912 to be the headquarters for the Standard Oil Company, 115 Sansome is a 19th Century French Beaux-Arts masterpiece. As part of a value-creation process, TA Realty LLC converted more than 70% of the building to creative office, artfully exposing the original features such as concrete ceilings and floors, brick walls and copper-clad windows.

The historic building is 100% leased as a result of TA Realty's comprehensive repositioning, which features approximately 117,000 square feet of refurbished space. TA Realty, on behalf of The Realty Associates Fund X, recently sold this 15-story office building for $83 million to privately owned real estate investment and advisory firm, Vanbarton Group.

“The sale of 115 Sansome demonstrates the successful execution of TA Realty's value-add strategy in a high-barrier-to-entry market,” said Jim Raisides, partner at TA Realty. “We were able to activate the ground-floor retail while seamlessly integrating the historic charm of the building with innovative workplace dynamics. The result has provided a unique neighborhood gathering destination for building tenants, as well as other professionals throughout San Francisco's Financial District. The building's dynamic ground floor and coveted creative space has helped attract tenants from a diverse set of industries.”

Raisides represented the sale alongside colleagues, Doug Engelman, partner, Scott Amling, partner, Luke Marchand, officer and Greg Bonomo, associate. Michel Seifer, managing director and Erik Hanson, vice president, both of JLL represented TA Realty in brokering the transaction.

During the update process, the architectural features of the ground floor lobby were restored and the upper floors were converted from traditional floorplates to a creative and collaborative workplace environment. The building's dramatic lobby featuring a double-height coffered ceiling and brass accents attracted the popular Blue Bottle Coffee and The Treasury, a Parisian-inspired restaurant and cocktail lounge.

“TA Realty removed Cable Car Clothiers and replaced it with Blue Bottle Coffee and The Treasury, a financial district bar/restaurant, in order to better serve its tenant mix while maintaining the beauty and appeal of the ground floor through comprehensive restoration efforts,” Raisides tells GlobeSt.com.

TA Realty LLC is a provider of real estate investment management services to institutional and private investors.

115 Sansome St.

SAN FRANCISCO—Constructed in 1912 to be the headquarters for the Standard Oil Company, 115 Sansome is a 19th Century French Beaux-Arts masterpiece. As part of a value-creation process, TA Realty LLC converted more than 70% of the building to creative office, artfully exposing the original features such as concrete ceilings and floors, brick walls and copper-clad windows.

The historic building is 100% leased as a result of TA Realty's comprehensive repositioning, which features approximately 117,000 square feet of refurbished space. TA Realty, on behalf of The Realty Associates Fund X, recently sold this 15-story office building for $83 million to privately owned real estate investment and advisory firm, Vanbarton Group.

“The sale of 115 Sansome demonstrates the successful execution of TA Realty's value-add strategy in a high-barrier-to-entry market,” said Jim Raisides, partner at TA Realty. “We were able to activate the ground-floor retail while seamlessly integrating the historic charm of the building with innovative workplace dynamics. The result has provided a unique neighborhood gathering destination for building tenants, as well as other professionals throughout San Francisco's Financial District. The building's dynamic ground floor and coveted creative space has helped attract tenants from a diverse set of industries.”

Raisides represented the sale alongside colleagues, Doug Engelman, partner, Scott Amling, partner, Luke Marchand, officer and Greg Bonomo, associate. Michel Seifer, managing director and Erik Hanson, vice president, both of JLL represented TA Realty in brokering the transaction.

During the update process, the architectural features of the ground floor lobby were restored and the upper floors were converted from traditional floorplates to a creative and collaborative workplace environment. The building's dramatic lobby featuring a double-height coffered ceiling and brass accents attracted the popular Blue Bottle Coffee and The Treasury, a Parisian-inspired restaurant and cocktail lounge.

“TA Realty removed Cable Car Clothiers and replaced it with Blue Bottle Coffee and The Treasury, a financial district bar/restaurant, in order to better serve its tenant mix while maintaining the beauty and appeal of the ground floor through comprehensive restoration efforts,” Raisides tells GlobeSt.com.

TA Realty LLC is a provider of real estate investment management services to institutional and private investors.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM Digital Member, you’ll receive:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Lisa Brown

Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.

lisabrown

Just another ALM site