Brian Hecktman Of Graymark Capital Acquires Office Building In San Francisco For $7.1M

The asset involved in this transaction is the historic Redstone Labor Temple, an office building located at 2940 16th Street in San Francisco’s Mission District. The property consists of 55,000 square feet and was sold for $7,100,000, resulting in a price per square foot of $129. This sale represents a significant reduction from the building's previous asking price of $22 million.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $7,100,000
• Address: 2940 16th Street
• Market: San Francisco, CA
• Asset Size: 55,000 SF
• Price per Square Foot: $129
• Buyer: Brian Hecktman - Graymark Capital
• Seller: James Kilpatrick - Lakeside Investment Company

This transaction involved a buyer represented by Brian Hecktman from Graymark Capital, while the seller was represented by James Kilpatrick from Lakeside Investment Company. The acquisition marks the end of prior unsuccessful efforts by nonprofit organizations to purchase the property.