News

NKF Capital Markets has brokered the $49 million sale of 939 Ellis Street, a seven-story, 87,190-rentable square-foot office property with 53 parking stalls in the up-and-coming Van Ness Corridor of San Francisco. The property, built in 1961, recently underwent a major renovation by the seller with base building improvements providing a blank canvas for prospective tenants to create their own identity.

NKF Capital Markets’ San Francisco investment team of Executive Managing Directors Kyle Kovac, Michael Taquino and Daniel Cressman and Associate Director Mandy Lee represented the seller, a joint venture of Seattle-based Columbia Pacific Advisors and San Francisco-based Long Market Property Partners. The buyer, The Seavest Investment Group, assisted by Meridian, represented itself.

939 Ellis Street is an institutional-quality building featuring a 4,460-square-foot patio roof deck, unobstructed views of downtown San Francisco, spacious meeting spaces, and structured parking garage with first level parking.

Some of the key drivers for the growth of the Van Ness Corridor include: more than 9,000 residential units either under construction, approved, or proposed along Van Ness Avenue and in adjacent submarkets; California Pacific Medical Center’s (CPMC) new state-of-the-art hospital at Van Ness and Geary (less than three blocks from 939 Ellis); and the nearby transit with MUNI bus lines, BART, and the future Van Ness Bus Rapid Transit providing access to the entire Bay Area.