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CIM GROUP ACQUIRES OFFICE BUILDING AT 274 BRANNAN STREET IN SAN FRANCISCO’S SOMA DISTRICT FROM THE SWIG COMPANY

4/18/2016


SAN FRANCISCO –April 18, 2016 – CIM Group announced today the purchase of the approximately 105,800-square-foot, six-story office and telecom building at 274 Brannan Street in San Francisco’s SoMa district.  The seller was San Francisco-based The Swig Company, which had owned and operated the property since 2007.  274 Brannan has immediate proximity to the primary fiber network that serves San Francisco and the Bay Area and is one of a limited number of telecommunication and colocation centers within the city of San Francisco. The building also includes parking, ground floor retail, and basement telecom space.

274 Brannan is centrally located in the SoMa district, a major employment node within San Francisco.  It offers easy access to public transportation -- BART, MUNI, and Caltrain stations are all within a six-block radius.  Nearby, Highway 80 and The Bay Bridge provide connection to the East Bay communities including Oakland and Berkeley, and Highway 101 to Silicon Valley.  In addition, 274 Brannan is located near the Central Subway project, which will have a route from Mission Bay north to Market Street via a planned stop at 4th Street and Brannan Street.

Besides its prime location within SoMa, the property is within walking distance to AT&T Park and the Embarcadero. It is also within close proximity to Mission Bay, a 303-acre master-planned development that is home to UCSF’s Mission Bay Medical Research Campus and Hospital with its more than 2.6 million square feet of commercial, medical, and life science buildings as well as approximately 5,500 residential units, including CIM’s One Mission Bay, a 350-unit luxury residential condominium project located on the waterfront and currently under construction.  Mission Bay also features 49 acres of public open space.

Other CIM investments in the SoMa/Mission Bay area include 330 Townsend, a creative-office building and  260 Townsend, a Class A office building.  In the neighboring South Financial District, CIM owns 211 Main Street, a Class A office building, 246 1st Street, a five-story office building, Central Tower, an office building located at 703 Market Street, and the newly-remodeled 30 Third Street office building. 

 

About CIM Group

CIM Group is a leading real estate and infrastructure investment firm that since 1994 has systematically and successfully invested in dynamic and densely populated communities throughout North America. CIM Group draws on its experienced team of real estate, investment and finance professionals to identify and pursue investment opportunities in five strategic categories: repositioning and development projects, well-positioned operating properties, value-add properties, debt, and infrastructure.  Headquartered in Los Angeles, CIM maintains regional offices in New York, the San Francisco Bay Area, Bethesda, Maryland, and Dallas. For more information, please visit www.cimgroup.com

 

About The Swig Company:

The Swig Company, LLC is a privately-owned, San Francisco-based real estate operator with a 75+ year history of investment, development, partnership and management of commercial real estate properties in major US markets. Founded by Benjamin Swig, The Swig Company is guided by a long-term investment perspective that has proven adept at stewarding investors safely through multiple market cycles. The company’s vertically-integrated operational platform, which includes investment, asset and property management expertise, uses flexibility, generational thinking and a sensitivity to sustainable practices to stay at the forefront of emerging trends in the commercial real estate industry. For more information, visit: www.swigco.com.

 

CONTACT for CIM Group:

Karen Diehl

Diehl Communications

(310) 741-9097

 

CONTACT for The Swig Company:

Andrew Neilly

Gallen Neilly

(925) 930-9848

 

 

 

 



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