Lincoln Property Company, in partnership with New York Life Real Estate Investors (NYLREI), has acquired 600 Townsend West, a Class A creative office building located in San Francisco’s Design District. While the purchase price was not officially disclosed, reports estimate the transaction value at approximately $54 million.
The five-story property comprises nearly 210,000 square feet and is situated in a key area for San Francisco’s growing AI and broader tech ecosystem. Constructed in 1989, this marks the property’s first time being brought to market since its original development. JLL served as the broker for the transaction.
“600 Townsend West is a prize creative office asset in one of the most dynamic and innovative business environments in the world,” said Brandon Wang, Executive Vice President at Lincoln Property Company. “We’re delighted to join with New York Life as the first new owners of this renowned property since it was first developed, deepening our presence in the resurgent San Francisco market.”
This acquisition follows the partners’ purchase of the loan on 353 Sacramento earlier this year, further reinforcing their commitment to the San Francisco commercial real estate market.
Photo courtesy of JLL.
