Clarion Partners and LPC West acquire trophy office building in San Francisco

Clarion Partners and LPC West have acquired 215 Fremont in the South Financial District of San Francisco. A sales price was not disclosed; however, The Registry reported it at $335 million.

The eight-story office building encompasses approximately 360,000 square feet boasting 45,000-square-foot floor-plates and multiple roof decks. The building is situated steps from the Transbay Transit Center and its 5.4-acre rooftop park. LPC West also serves as the asset manager for the Transbay Transit Center.

Many leading media and technology companies call the area home, including Facebook, which leased 436,000 square feet in 181 Fremont, an adjacent office building, as well as more than 750,000 square feet in Park Tower, an office tower located a block from the building.

Building amenities include numerous rooftop decks and terraces with sweeping city views, bike parking and shower facilities, onsite parking, and 19,000 square feet of ground-floor retail.

The building was constructed in 1927 and underwent a full renovation in 2001, including the addition of new building systems, a new building core, and a seismic retrofit that allowed for the addition of two office floors on top of the building as well as the conversion of the basement storage space into useable parking. The exterior of the building was also renovated with new windows and a new façade along Fremont Street.

JLL and Eastdil Secured assisted in the transaction.