Lincoln Property Company and New York Life Real Estate Investors have acquired 600 Townsend West, a five-story, 210,000-square-foot creative office building in San Francisco’s Design District.
Built in 1989 and sold for the first time, the Class A property recently underwent major upgrades, including a renovated lobby, enhanced courtyard, and rooftop solar installation. The building is more than 90 percent leased to tech and other firms, with floor plates averaging 42,000 square feet, high ceilings, and amenities such as a top-floor terrace, bike and car parking, and shuttle service to BART.
The purchase follows the partners’ June acquisition of the loan for 353 Sacramento, and is part of a string of Bay Area deals for both firms. Lincoln says it plans additional amenity upgrades and curated activation for the lobby and courtyard, capitalizing on the district’s proximity to Oracle Park, Chase Center, and thousands of new housing units.
“600 Townsend West is a prize creative office asset in one of the most dynamic and innovative business environments in the world,” said Lincoln Property Company executive vice president Brandon Wang, who credited the San Francisco Board of Supervisors and Planning Department for facilitating the purchase.
