Grosvenor Americas purchases San Francisco mixed-use asset
Grosvenor Americashas purchased 240 Stockton St., a 10-story, 40,442-square-foot retail and office building in San Francisco. A sales price was not disclosed.
The fully occupied property is located at the corner of Stockton Street and Maiden Lane, facing directly to Union Square.
“The purchase of 240 Stockton St. enhances Grosvenor’s position as a high-street retail specialist and demonstrates Grosvenor’s commitment to the area,” said Michael Beattie, Grosvenor’s CIO, in a statement.
This is not Grosvenor’s first investment in San Francisco. In July, Grosvenor acquired 394 Pacific Ave., a 50,220-square-foot office building in Jackson Square, for $33 million.
As of Dec. 31, 2015, Grosvenor had $2.7 billion in assets under management. The firm aims to invest in high-quality assets in dynamic, vibrant cities with strong education systems and accessibility.
San Francisco is the