Trophy San Francisco urban street front retail trades for $9.35M
JLL Capital Markets arranged the sale of the 29,762-square-foot 2145 Market St. located in a highly sought-after neighborhood in San Francisco
SAN FRANCISCO, May 3, 2024 – JLL Capital Markets announced today that it has closed the $9.35 million sale of 2145 Market St., a 29,762-square-foot, trophy retail asset located in San Francisco, California.
JLL represented the seller, a private family trust, and Pacific Capital acquired the asset.
2145 Market is 100% leased to investment grade tenant Walgreens and rapidly growing fitness tenant Live Fit Gym. The property features a WALT of 10.2 years. The site comprises two parcels totaling 0.36 acres and includes one two-story retail building and a subterranean parking garage. Zoning allows for 47,000 square feet of residential and commercial use with parking to be accommodated by the existing on-site parking structure.
Located in between 15th St. and Church St., the property is positioned in a highly sought-after neighborhood at the confluence of Duboce Triangle, Mission Dolores and The Castro in San Francisco. 2145 Market is situated on San Francisco’s major commercial thoroughfare surrounded by affluent residential communities, alluring new developments, thriving commercial districts and tremendous walkability and transit access. In addition, within one mile of the property is an average household income of $220,000.
The JLL Retail Capital Markets team that represented the seller was led by Managing Director Eric Kathrein, Director Warren McClean, Senior Analyst Andrew Spangenberg, and Analyst Jen Mistretta.
“2145 Market St. is a testament to the enduring appeal of well-located, street front retail in San Francisco,” said McClean. “We have continued to see strong investor interest and tenant demand for retail properties in the city’s most coveted neighborhoods.”
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment and sales advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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Jones Lang LaSalle Americas, Inc. ("JLL") is a real estate broker licensed with the California Department of Real Estate, license #01223413.
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 106,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.