SAN FRANCISCO, May 3, 2024 -JLL Capital Markets announced today that it has closed the $9.35 million sale of 2145 Market St., a 29,762-square-foot, trophy retail asset located in San Francisco, California.

JLL represented the seller, a private family trust, and Pacific Capital acquired the asset.

2145 Market is 100% leased to investment grade tenant Walgreens and rapidly growing fitness tenant Live Fit Gym. The property features a WALT of 10.2 years. The site comprises two parcels totaling 0.36 acres and includes one two-story retail building and a subterranean parking garage. Zoning allows for 47,000 square feet of residential and commercial use with parking to be accommodated by the existing on-site parking structure.

Located in between 15th St. and Church St., the property is positioned in a highly sought-after neighborhood at the confluence of Duboce Triangle, Mission Dolores and The Castro in San Francisco. 2145 Market is situated on San Francisco's major commercial thoroughfare surrounded by affluent residential communities, alluring new developments, thriving commercial districts and tremendous walkability and transit access. In addition, within one mile of the property is an average household income of $220,000.

The JLL Retail Capital Markets team that represented the seller was led by Managing Director Eric Kathrein, Director Warren McClean, Senior Analyst Andrew Spangenberg, and Analyst Jen Mistretta.

"2145 Market St. is a testament to the enduring appeal of well-located, street front retail in San Francisco," said McClean. "We have continued to see strong investor interest and tenant demand for retail properties in the city's most coveted neighborhoods."

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients - whether investment and sales advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources on JLL, please visit our newsroom.

Jones Lang LaSalle Americas, Inc. ("JLL") is a real estate broker licensed with the California Department of Real Estate, license #01223413.

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Jones Lang LaSalle Inc. published this content on 03 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 May 2024 16:52:05 UTC.