SAN FRANCISCO—Harvest Properties has put up 115 Sansome here up for sale just more than one year after buying the office building.
Swig Co. bought the 126,716-sq.-ft. building for a reported $32 million in 2006, and later sold a 50 percent interest to Angelo, Gordon & Co. Harvest purchased the property from the venture for a reported $29 million in mid-2011. The building, located a half block off of Market Street at the confluence of San Francisco’s North and South Financial Districts, was constructed in 1912 as the headquarters of the Standard Oil Co.
Jones Lang LaSalle’s Capital Markets division said it has been hired to market the property for sale. Managing Directors Rob Hielscher and Mike Seifer, along with Vice President Aaron Herter, are leading the JLL team on this transaction.
“This offering provides an investor the rare opportunity to acquire a premier boutique landmark property in the heart of San Francisco’s CBD, the strongest office market in the country” said Hielscher in a statement. “115 Sansome offers an investor the combination of stable in-place income with significant upside potential via the leasing of vacant space and rolling existing leases to market rates.”
