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350 California Street

Updated Dec 4, 2024

Bridge Housing Signs Long-Term Lease For 16,100 Sq Ft Space At 350 California Street In San Francisco
LEASEDOffice

Bridge Housing Signs Long-Term Lease For 16,100 Sq Ft Space At 350 California Street In San Francisco

350 California Street

Building Size

16,100 SF

Asset Type

Office

Closing

Jan 9, 2024

About this deal

AI

Affordable housing developer Bridge Housing has signed a long-term lease for a 16,100 sq ft space at 350 California Street in San Francisco's Financial District. The lease is the first since the building's $61 million acquisition by The Swig Company and SKS Partners and reflects a strategic move in the evolving commercial real estate market, with the 22-story tower offering favorable amenities and a competitive price of about $200 per sq ft.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not specified
  • Property Size: 16,100 sq ft
  • Property Address: 350 California Street, San Francisco
  • Market: San Francisco

The landlord for the leased space at 350 California Street includes Connor Kidd from The Swig Company and Paul Stein from SKS Partners. The tenant, Bridge Housing, an affordable housing developer, has chosen this location for their operations. The lease agreement was facilitated by CBRE, acting as the broker in the transaction.

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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