Lincoln Property Co. and Cara Investment makes third JV, buys San Francisco asset
A joint venture of Lincoln Property Co. and Cara Investment has acquired 384 Post Street on Union Square in the heart of San Francisco’s luxury retail district. Saks Fifth Avenue, which has occupied the property for more than four decades, currently leases the entirety of the property through 2027. A purchase price was not disclosed.
The building is located on a prestigious corner with unobstructed views of and from Union Square. Located on just over half an acre, the property totals approximately 135,000 square feet, with 163 feet of retail frontage along Post Street, facing Union Square. Five floors are above grade, with one below-grade floor.
Union Square sees 25,000 pedestrians a day, and more than $1.1 billion is spent on retail annually within a half-mile radius. It features high-end national and international brands as well as hundreds of hotels and popular restaurants. Neighboring tenants in the area include Tiffany & Company, Williams Sonoma, Apple and