TMG Partners JV sells San Francisco project

A joint venture of TMG Partners and Alexandria Real Estate Equities has sold 945 Market St. to Ingka Centres San Francisco. The financial terms were not disclosed.

“This investment and the addition of IKEA will be transformational for our Mid-Market neighborhood, and a welcome reminder that while the present is challenging, San Francisco remains a place businesses want to locate,” said Mayor London Breed. “City staff spent months working to attract IKEA, and we’re going to continue working to bring new retailers, new employees and new visitors back to the heart of our city to help speed our recovery.”

The Gensler-designed “6x6” development is the largest recently completed property between Fifth and Ninth streets on Market Street in San Francisco’s Mid-Market neighborhood. It is situated between Union Square, the Hotel District, and San Francisco’s South of Market (SoMa) neighborhood. The property is a six-level retail center totaling more than 250,00