Clay Duvall Of Lincoln Property Company And Naïm Abou-Jaoudé Of New York Life Acquire Office In San Francisco For $54.1M

The asset involved in the transaction is a Class A office building located at 600 Townsend Street in San Francisco's Design District. This property spans a total of 210,000 square feet and has a transaction amount of $54,100,000, translating to a price per square foot of $258. The building has undergone full renovations and is currently over 90% leased.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $54,100,000
• Square Footage: 210,000
• Price Per Square Foot: $258
• Address: 600 Townsend Street
• Market: San Francisco
• Buyer: Clay Duvall - Lincoln Property Company
• Buyer: Naïm Abou-Jaoudé - New York Life Real Estate Investors

Clay Duvall represents Lincoln Property Company in this transaction, while Naïm Abou-Jaoudé represents New York Life Real Estate Investors. This acquisition marks the firms' first sale since the building's development in 1989, highlighting their confidence in the recovery of the office market in San Francisco driven by the city's tech industry.