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SAN FRANCISCO-Those who follow @GlobeStcom on Twitter and @GlobeStLIVE may have seen a post teasing the announcement, but GlobeSt.com has learned that 995 Market St. in San Francisco has changed hands. The property was acquired by 995 Market Street SF Investment LLC, a joint venture between Columbia Pacific Advisors, based in Seattle and San Francisco-based Long Market Property Partners.

“We are excited to be purchasing this asset, especially in the midst of all the positive developments taking place in Mid-Market” Justin Shapiro, principal of Long Market Property Partners tells GlobeSt.com.

The 16-story office tower is located in the city’s mid-Market corridor on a prominent corner location at Sixth Street just steps from public transportation. Plans are to immediately implement a significant capital improvement program that includes renovating the interiors to appeal to creative and high tech tenants, according to Newmark Knight Frank Cornish & Carey Commercial capital group managing director Kyle Kovac, who represented the buyer with executive managing director Daniel Cressman and managing director Mike Taquino.

Kovac tells GlobeSt.com that “the building has a commanding presence on the corner of Sixth and Market Streets and is the tallest tower along the Mid-Market corridor.”

He explains that “995 Market St. represents one of the few remaining truly value-added investment prospects left in downtown San Francisco. The buyer was able to acquire the asset at a very attractive basis.”

While those involved couldn’t disclose pricing, the building reportedly sold for $17 million.

GlobeSt.com learns that New York City-based Mission Capital Advisors raised structured debt and equity from Seattle-based Columbia Pacific Advisors on behalf of Long Market Property Partners in order to close on the acquisition.