55 Green, San Francisco

VALUE-ADD OFFICE INVESTMENT OPPORTUNITY IN SAN FRANCISCO’S NORTH WATERFRONT / JACKSON SQUARE

EXCLUSIVE ADVISOR

INVESTMENT OPPORTUNITY

THE OFFERING

Newmark Knight Frank, as exclusive advisor, is pleased to present the opportunity to acquire 55 Green Street
(the “Property”), located in San Francisco, California. Consisting of five stories plus a lower level, the Property
totals 51,025 gross square feet which includes 42,628 gross square feet of office area and a 8,397 square
foot lower level parking garage with 17 spaces. Located in the desirable North Waterfront District, 55 Green
Street boasts breath-taking water views, an attractive red-brick façade, plentiful natural light, and efficient floor
plates. Triton Container International, Incorporated of North America (“Triton”) currently owns and occupies the
building with plans to vacate a majority of the space. The opportunity exists for another owner-user to occupy or
for a value-add investor to reposition the space and lease it up at prevailing market rates. The Property is within
walking distance to many amenities including some of San Francisco’s most critically acclaimed restaurants
and shops in North Beach and Jackson Square. 55 Green Street is easily accessible and well-served by multiple
modes of transportation including MUNI light rail, MUNI bus lines, BART, Golden Gate Transit, and the San
Francisco Bay Ferry. The combination of a well-maintained Property in a premium location, and strong upside
through lease-up, makes the purchase of 55 Green Street a highly attractive investment opportunity.

HIGH-IDENTITY PROPERTY: Five-story, 51,025
gross square foot office building with 17
subterranean parking spaces boasting stunning
water views and featuring abundant natural light.

SIGNIFICANT VALUE ADD POTENTIAL: Soon-to-be
vacant building presents an exceptional opportunity
for an owner-user to occupy or value-add investor
to reposition and lease up as creative office.

DYNAMIC LOCATION: Highly-coveted waterfront
location with excellent transportation access via
MUNI light rail, MUNI bus lines, BART, Golden Gate
Transit, and San Francisco Bay Ferry.

PROPERTY PROFILE

A D D R E S S . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 55 Green Street, San Francisco
E X T E R I O R G R O S S A R E A ( I N C L U D I N G PA R K I N G ) . . . . . . . . . . . . 51,025 square feet
R E N TA B L E O F F I C E A R E A ( M U LT I - T E N A N T ) . . . . . . . . . . . 38,902 rentable square feet
AV E R AG E F L O O R P L AT E ( M U LT I - T E N A N T ) . . . . . . . . . . . . . . . . . 7,780 square feet
G R O S S PA R K I N G A R E A . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .8,397 square feet
PA R K I N G . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 spaces
A P N . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Lot 0136, Block 001
S I T E A R E A . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8,962 square feet
F R O N TAG E S . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Green Street and Front Street
S TO R I E S . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Five plus lower level parking garage
S U B M A R K E T . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . North Waterfront

FINANCIAL DISTRICT

JACKSON SQUARE
GREEN ST.
BROADWAY SANSOME ST.
NORTH WATERFRONT BATTERY ST.

FRONT ST.

WATERFRONT
BARCADERO
THE EM

VA LU E - A D D
OPPORTUNITY

OPPORTUNITY TO FULLY LEASE UP IN A STRONG
MARKET: The upcoming vacancy in the building
provides an opportunity to fully lease up 55 Green
Street at today’s market rates. San Francisco’s
competitive office market has driven Class A asking
rents in the North Waterfront / Jackson Square
submarket to nearly $70 PSF/Yr. in the third quarter
of 2017, and vacancy rates to 4.1 percent.

CREATIVE OFFICE CONVERSION: 55 Green Street
presents the option for a new owner to convert the
building to the highest standard of creative office
space. The Property can be configured for full floor
users or can accommodate a single building user.

OWNER-USER OPPORTUNIT Y: 55 Green Street has
operated primarily as an owner-user building since
it was built and represents a compelling option for
another user to purchase and occupy. A user could
tailor a build-out to suit their needs and occupy the
space as a headquarters or major regional office.

DISCOUNT TO REPL ACEMENT COST: With new
construction costs continuing to escalate as high
as $1,000 per square foot, and City development
restrictions limiting new supply, quality existing
product has never been more valuable in San
Francisco. A new owner can acquire 55 Green Street
at a substantial discount to replacement cost.



HIGH - QUA LI T Y A N D W ELL- LOC AT ED A S SE T

AT TRACTIVE AND WELL-MAINTAINED BUILDING: Offering many features attractive to tenants, 55 Green
Street includes impressive views, a red-brick facade, and expansive window lines. The Property includes
solar panels that significantly reduce electrical costs in the building. Over the years, the Property has been
exceptionally well-maintained with minimal need for additional improvements.

THE BAY AREA’S “NEW SAND HILL ROAD”: In the past four years, the North Waterfront and Jackson Square
have been dubbed the “New Sand Hill Road” by investment groups as an influx of venture capital and private
investment firms have set up offices in these neighborhoods. Notable companies include Azure Capital
Partners, Jackson Square Ventures, Iconiq Capital, and Seed Change, among others.

PROXIMIT Y TO AMENITIES AND TRANSPORTATION: Located in the North Waterfront, 55 Green Street is
walkable to some of San Francisco’s best shopping and dining establishments in Jackson Square. The Property
is less than a block away from popular MUNI light rail lines and adjacent to a major Golden Gate Transit stop at
Battery and Green Streets. BART at Embarcadero Station and the San Francisco Bay Ferry at the Ferry Building
are both about a 12-minute walk away.

EXCELLENT MARKET FUNDAMENTALS

STRONG TENANT DEMAND: Tenant demand in San Francisco currently totals nearly 6.6 million square feet
with more than 150 active tenants looking for space. Vacancy remains low at just 5.8 percent city-wide.

NORTH WATERFRONT / JACKSON SQUARE SUBMARKET: The North Waterfront and Jackson Square continue
to attract tenants in a diversity of industries including technology, retail, advertising and telecommunications,
among others. Class A asking rents in the submarket average $68 PSF/Yr. The overall San Francisco market
averages $72 PSF/Yr., leaving room for the North Waterfront / Jackson Square submarket to grow.

PROPOSITION M CONSTRAINS SUPPLY: With Proposition M in effect, San Francisco has a shortage of office
supply and can only allocate 950,000 square feet of office development annually. As a result, it is extremely
difficult to build new office projects, further constraining supply, and there is already a long list of projects
awaiting allocation that may take years to receive approval.

3Q 2017 MARKET SNAPSHOT

SUUBBMMAARRKEKTE . T . . . . . . . . North Waterfront / Jackson Square
SIIZZEE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5,164,896 SF
CLASS A VAACCAANNCCY Y . . .. . . . .. . . . . . . . . .. . .. .. . 4.1%
CLLAASSSSA AASAKSINKGI NRAGTERSA T. E. S . . . . . . . .$$6677..6611 PPSSFF/Yr.

INVESTMENT ADVISORS

M I C H A E L TAQ U I N O KYLE KOVAC DANIEL CRESSMAN MANDY LEE
Executive Managing Director Executive Managing Director Executive Managing Director Director
415 . 47 7.9 20 0 415 . 477. 9220 415.288.3622 4 15 . 4 4 5 . 5 10 3
m t a q u i n o @ n e w m a r k c c a r e y. c o m k k o v a c @ n e w m a r k c c a r e y. c o m d c r e s s m a n @ n e w m a r k c c a r e y. c o m m l e e @ n e w m a r k c c a r e y. c o m
CA License #01431337 CA License #01731229 CA License #00849877 CA License #01942461

LEASING ADVISORS DEBT & EQUITY ADVISORS

DANIEL PIVNICK BART O’CONNOR R A M S E Y DAYA CHRIS MORITZ
Managing Director Managing Director
4 15 . 4 4 5 . 5 10 6 Senior Managing Director Vice Chairman 415.399.8083
d p i v n i ck @ n e w m a r k c c a r e y. c o m chris.moritz@newmarkccarey.com
CA License #01481078 4 15 . 4 4 5 . 5 10 2 415.399.8085 CA License #01860037

boc onnor @new m a r k c c a r ey. c o m ramsey.daya@newmarkccarey.com

CA License #0124495 CA License #01248046