JLL is currently marketing the leasehold interest of downtown San Francisco’s iconic Metreon shopping center, located next to Yerba Buena Center. According to a report from the San Francisco Business Times, potential new owners have the opportunity to acquire this 312,592-square-foot complex which is currently 91.9% leased and anchored by Target and AMC movie theater at 135 Fourth St.
In a marketing brochure released by JLL, they describe Metreon as an exceptional urban retail asset with both immediate and long-term opportunities for value enhancement that will shape the future of downtown San Francisco.
The current owner Starwood Capital Group acquired Metreon in 2012 as part of their $1.1 billion purchase of eight non-core U.S. shopping centers from Westfield Group. The shopping center sits on leasehold land owned by the city of San Francisco with approximately 58 years remaining on its ground lease.
Originally opened in 1999, today Target and AMC account for over half (61%) of Metreon’s total income according to sources cited in Business Times’ report . A photo provided courtesy Pacific Structures showcases this impressive property.
