945 Bryant Street
San Francisco, CA
Brickman acquired the fee-simple interest in 945 Bryant Street for $18.35 million ($485 per square foot) in October 2014. The asset is three stories and totals 37,848 square feet. The Property was built in 1963, renovated in 1999 and is located at 945 Bryant Street in San Francisco, CA. The Property is currently 100% occupied by four tenants.
Property type: Office
Investment type: Equity
Size: 37,848 SF
Investment date: October 2014
945 Bryant is located in the western section of the South of Market Area (SoMa), which is one of San Francisco’s most sought after sub-markets. Significant capital is being invested in the immediate neighborhood, including major warehouse repurposing and large-scale residential development with over 2,000 residential units planned and 500 units under construction one block south of the building.
The Property benefits from stable cash flow with mark-to-market opportunity, as 945 Bryant is fully leased with two-thirds of the tenancy set to expire during the first four years of Brickman’s anticipated hold period. Furthermore, the in-place rental rates are in excess of 40% below market representing significant cash flow upside.