The 25 story, 43,000 sq foot building at 100 Montgomery st. was recently purchased by Vanbarton Group LLC and a pension fund partner for a mere $285,000,000. That breaks down to $664 per sq foot. Equity Partner was the previous owner who bought this building 4 years ago back in 2012 for $165,000,000 from Hines. That makes a profit of $120,000,000 for Equity Partner.
Hines completed a $30,000,000 renovation project back in 2009. Only one block from The Montgomery St. Bart Station and Market St. with tenants like DCI Construction, architecture firm Perkins Eastman, and Spruce Capital Partners. The General Services Administration recently renewed a lease for 85,000 square feet at $75 per square foot made this building worth every cent.
William Bond, a managing director with Vanbarton recently said “Situated in an unparalleled location with immediate access to public transportation and premier amenities, the building provides the features that tenants are seeking today,” Vanbarton is no stranger to San Francisco. The firm also owns nearby 301 Howard St. where it recently renovated and expanded the retail space.
The firm, founded in 1992, has offices in New York City and San Francisco. Mark Anderson and David Duble, brokers with Cushman & Wakefield, will handle leasing of 100 Montgomery.