350 McAllister Street and 455 Golden Gate Avenue
San Francisco, CA 94102 ·
912,387 SF · Office For Sale
San Francisco Civic Center
|Building Size||912,387 SF||Building Class||A|
|Property Sub-type||Institutional/Governmental||Year Built||1998|
|Property Use Type||Investment||Lot Size||2.46 AC|
|Listing ID: 16613190||Date Created: 03/17/2010||Last Updated: 04/26/2010|
CB Richard Ellis, as exclusive advisor to the State of California, is privileged to present the opportunity to acquire a 100% fee simple interest in the San Francisco Civic Center, located at 350 McAllister St & 455 Golden Gate Ave in the Civic Center submarket of San Francisco, California (the Property ). The Property consists of a LED® Gold certified, Class A office property containing 912,387 rentable square feet in two connected buildings. The 6-story 350 McAllister St building, which houses the California Supreme Court, was originally constructed in 1922, and completely renovated in 1999 when the adjacent 14-story steel framed high-rise office building located at 455 Golden Gate Avenue was constructed.
The Property is 100% leased, of which 99.8% is leased to the State of California for 20 years, providing an investor with stable and secure cash flows and built-in rent escalations that enhance yields during the lease term. The State of California has an investment grade credit rating of A- by S&P.
IF YOU WOULD LIKE TO RECEIVE THE OFFERING MEMORANDUM, PLEASE FILL OUT THE REGISTRATION AGREEMENT IN THE ATTACHMENT SECTION OF THIS WEBSITE.
The Property is situated between McAllister and Golden Gate Avenues and across the street from San Francisco City Hall, an irreplaceable location highly valued by government and support service users. The Property enjoys excellent access to public transportation via the Civic Center station 2 blocks away providing service throughout the city and region via the SF Municipal Railway and the Bay Area Rapid Transit (BART ) system.
The Property' s overall quality and finishes are unmatched in the submarket. The 350 McAllister building houses the California Supreme Court, with highly specialized interior build-outs including Justices' Chambers. The recently constructed 455 Golden Gate building features an impressive 3-story lobby and a 5-story atrium with a glass skylight and a number of large art installations. There are two courtyards situated between the two buildings.
350 McAllister Street and 455 Golden Gate Avenue, San Francisco, CA 94102 (San Francisco County)
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