Updated Oct 29, 2024
Levi Strauss Renews Lease For 22,000 SF Flagship Store On Market Street, San Francisco
815 Market Street San Francisco, CA 94102, USA
Building Size
22,000 SF
Asset Type
Retail
Closing
Sep 7, 2023
About this deal
AI
Levi Strauss has renewed its lease for its 22,000-square-foot flagship store located at 815 Market Street in San Francisco. This lease renewal underscores Levi Strauss' commitment to the city, despite the closure of nearby stores. The apparel company, which has been in San Francisco for 170 years, has also extended its lease for its headquarters and pledged to be a positive force for change in the city.
Summary of Transaction Details
- Property Type: Retail
- Transaction Amount: Not specified
- Square Footage: 22,000
- Address: 815 Market Street, San Francisco
- Tenant: Levi Strauss
- Tenant's Representative: Chip Bergh
Chip Bergh, the CEO of Levi Strauss, played a key role in the lease renewal. The agreement to extend both the flagship store lease and the headquarters lease showcases the company's commitment to staying in San Francisco and being an influential presence in the city. Despite the challenging retail environment, Levi Strauss remains dedicated to its long-standing connection with San Francisco and aims to contribute positively to its community.
Players
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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