San Francisco, Calif. (February 23, 2016) - The McGuire Building, located at 1201 Bryant Street in San Francisco, has sold for $47 million. Kidder Mathews commercial real estate brokers, Gary Barboro and Tim Mason, along with Gerald Norton of Binswanger, an international real estate organization, represented the seller, Kohler Co., a manufacturer of plumbing products, furniture, cabinetry, tile, engines, and generators.
Commercial real estate investors/developers, SKS Partners, LLC and ProspectHill Group, purchased the 140,000 square foot industrial building, and plan to redevelop it for uses consistent with the Production, Distribution & Repair zoning. "As custodians of the McGuire Building and its legacy, the partnership will renovate the building, to "like new" condition," said Barboro.
1201 Bryant Street is located in the SoMa district. It will be a significant redevelopment, and shows that the San Francisco market is a highly attractive location for innovative companies, and not just for those in the technology sector, but also for those in the Production, Distribution & Repair sector. "The challenge, in selling this building, was selecting the buyer from a well qualified pool of candidates," said Mason.
Previously, in another joint venture, SKS and ProspectHill purchased and renovated the approximately 103,000 square foot McClintock Building, which has been successfully leased to a single tenant, for uses consistent with the Production, Distribution & Repair zoning.
About Kidder Mathews
Kidder Mathews is one of the largest independently owned commercial real estate firms on the West Coast, with over 550 real estate professionals and staff in 13 offices in Washington, Oregon, California, Arizona, and Nevada. Kidder Mathews offers a complete range of brokerage, appraisal, property management, consulting, sustainability, and project and construction management services for all property types. The firm performs $4.7 billion in transactions, manages 34.5 million square feet of space, and conducts 1,300 appraisals annually. For more information, visit kiddermathews.com.