SAN FRANCISCO—The 61,000-sq.-ft.property at 330 Townsend St. in the South of Market District in San Francisco was sold to CIM Group by ATC Partners. The transaction details were not released.
“Low vacancy rates affirm that SoMa is San Francisco’s most popular office submarket, and 330 Townsend offers one of the best locations and space configurations in the area,” said Mike Taquino, Capital Group managing director for Newmark Knight Frank Cornish & Carey Commercial.
Taquino, as well as NKFC&CC’s Executive Managing Director Daniel Cressman and Managing Director Kyle Kovac represented the seller and marketed the.
The two-story property is 98 percent leased to a variety of creative and professional tenants.
“In light of the property’s versatile, class-A space and superior access, the buyer could easily see why 330 Townsend enjoys virtually full occupancy and healthy rent levels,” Cressman said.
Taquino added, “The building appeals to tech firms and other tenants that depend on fostering creativity, with classic brick and timber finishes, skylights and open common space.”