Lincoln Property Company and partner New York Life Real Estate Investors (NYLREI) acquired 600 Townsend West, a Class A creative office building in San Francisco’s Design District. Although the sale price was not disclosed, published reports put it at approximately $54 million.
The five-story building spans nearly 210,000 square feet amid growing AI businesses and other drivers of the city’s tech economy. It had never before been brought to market since its original development in 1989. JLL brokered the deal.
“600 Townsend West is a prize creative office asset in one of the most dynamic and innovative business environments in the world,” said Lincoln EVP Brandon Wang. “We’re delighted to join with New York Life as the first new owners of this renowned property since it was first developed, deepening our presence in the resurgent San Francisco market.”
The acquisition follows Lincoln and NYLREI’s acquisition of the loan on 353 Sacramento in June.
Photo courtesy of JLL.
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