SAN FRANCISCO, Oct. 30, 2015 /PRNewswire/ -- Transwestern today announces it negotiated the disposition of the 17,242-square-foot industrial property located at 828 Brannan St. in San Francisco. Transwestern Senior Vice President and Director of Investment Services Michael Cisternino and Senior Vice President Steven Orchard represented the seller, 828 Brannan Street LLC in the transaction. The buyer acquired the site for $9,999,999 and plans to add three floors of creative office space above the existing structure, along with a complete remodel of the first and second floors.
"This site's prime location between the headquarters for Pinterest and Airbnb and directly across from one of the largest housing developments in Showplace Square made 828 Brannan an ideal redevelopment opportunity," said Cisternino. "The new ownership's plan to add creative office space will make this a highly sought-after location for tech and social media companies that have been actively looking to lease space in this submarket."
828 Brannan is across the street from the planned 432-unit, mixed-use apartment complex being developed by Equity Residential. The development will also have 37,000 square feet of landscaped open space and 3,000 square feet of retail/restaurant space.
Transwestern is a privately held real estate firm of collaborative entrepreneurs who deliver a higher level of personalized service – the Transwestern Experience. Specializing in Agency Leasing, Management, Tenant Advisory, Capital Markets, Research and Sustainability services, our fully integrated global enterprise adds value for investors, owners and occupiers of all commercial property types. We leverage market insights and operational expertise from members of the Transwestern family of companies specializing in development, real estate investment management and research. Transwestern has 34 U.S. offices and assists clients through more than 180 offices in 37 countries as part of a strategic alliance with BNP Paribas Real Estate. Experience Extraordinary at transwestern.com and @Transwestern. For updates from the Bay Area office, follow @TranswesternSF.