Thursday, February 19, 2015

HFF closes sale of Class A creative workspace building in San Francisco’s SoMa District on behalf of Flynn Properties


200 Kansas, occupies almost a full city block along Kansas Street
 from 15th to 16th Streets in the SoMa District of San Francisco, CA
  



Steve Golubchik
SAN FRANCISCO, CA – HFF announced today that it has closed the sale of 200 Kansas, a 90,637-square-foot, Class A creative workspace building in San Francisco’s SoMa District. 

                HFF marketed the asset on behalf of the seller, Flynn Properties and an affiliate of GEM Realty Capital.  

This is the second time Flynn Properties has owned the building, with its last ownership period concluding in 2006.  An affiliate of Ascent Real Estate Advisors, LLC and a separate account relationship purchased the property. 

200 Kansas is situated on 1.55 acres and occupies almost a full city block along Kansas from 15th to 16th Streets in the SoMa District. 

  Originally constructed in 1931, the seller spent $3 million on property upgrades to tenant spaces and common areas that were completed in 2014. 

The building features skylights, two-story glass-enclosed stairwell, modern finishes and a new lobby.  The 84-percent-leased asset includes tenants in the education, design and manufacturing and healthcare industries.  

John Simerlein
“During the three years of our most recent ownership of the property, we have repositioned 200 Kansas from a showroom-centric building to a truly creative workspace reflecting the needs of San Francisco’s growing tenant base,” said Greg Flynn, president and CEO of Flynn Holdings.

 “More broadly, SoMa continues to be a positively evolving submarket, and we are excited that 200 Kansas has contributed to that evolution.”

                The HFF investment sales team representing the seller was led by senior managing director and co-head of HFF’s San Francisco office Steven Golubchik, director John Simerlein, associate director David Dokko and senior analyst Josh DiSalle. 

                Flynn Properties has substantial experience in the West Coast commercial real estate markets.  

Directly and through its REOF funds, Flynn Properties has owned in excess of three million square feet of commercial real estate.  It also owns, in partnership, the super-luxury Auberge resort Esperanza, located in Los Cabos, Mexico, as well as The Carneros Inn, a super-luxury resort in Napa, California.  For more information, visit www.flynnholdings.com.


Greg Flynn
Founded in 1994, GEM Realty Capital, Inc. (GEM) is an integrated real estate investment company that invests in private-market real estate assets and publicly traded real estate securities through two lines of business, GEM Realty Properties and GEM Realty Securities. 

  GEM is currently investing capital for its fifth discretionary private real estate fund, GEM Realty Fund V, L.P.

Ascent is an entrepreneurial investment, development and consulting firm combining extensive real estate development, finance and capital market expertise with a track record of successful transactional experience.  

Ascent is active on a national basis and has been extremely active throughout the San Francisco/Silicon Valley market for the past several years.  Ascent seeks to add value through development and significant asset repositioning.  Learn more at www.ascentrea.com.

For a complete copy of the company’s news release, please contact:

Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com

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