CIM Group has sold One Tehama, a five-story creative office building totaling approximately 98,600 square feet located at 246 1st St. in San Francisco’s South Financial District. The new owner was not disclosed.
After acquiring the property in 2014, CIM planned and renovated the building, which included adding a floor by converting and expanding the first-floor mezzanine level to an entire floor; building a roof top deck, which provides San Francisco skyline and Bay views; and activated the basement level into occupiable space. The updated creative office building is fully leased to SoFi.
Built in 1929, One Tehama is on the California Historic Register and was designated by the San Francisco Planning Department as a Category I (Significant) Historic Structure. The building has Art Deco accents on the façade and features 13- to 14-foot tall ceilings on the upper levels, with an original 20.5-foot-tall ceiling on the ground floor.
One Tehama is well located on the corner of 1st St. and Tehama St. and is a block-and-a-half from the new Transbay Transit Center and Salesforce Park. The building is also convenient to other Bay Area transportation networks including the adjacent on- and off-ramps of the I-80 Freeway and is three blocks from the Montgomery BART and MUNI station. In addition, the future Yerba Buena/Moscone station of the upcoming Central Subway is a short three block walk.
