Metreon_Property for Sale
Metreon_Property for Sale
135 4th Street, San Francisco, CA, 94103, US

Metreon

Asset Description

Jones Lang LaSalle (“JLL”), as exclusive advisor, is pleased to present the opportunity to acquire the leasehold interest in Metreon (the “Property”), a 91.9% leased Target and AMC anchored urban retail center located in downtown San Francisco, California.


Located at the center of San Francisco’s prime cultural and entertainment corridor, Metreon features 312,592 square feet of retail, entertainment, and event space on the densely populated and highly trafficked blocks of 4th and Mission Street. Opened in 1999 to much fanfare, Metreon now features high performing anchors, Target and AMC, which comprise 60% of the Property’s total income. The anchors are complemented by a curated lineup of food & beverage tenants which average $1,442 sales per square foot (23% YoY sales growth) and provide a diverse & secure cash flow with 8 years of WALT. The Property features one of the top event venues in all of San Francisco known as City View, which offers unparalleled views of San Francisco in an immaculate upscale setting. Additionally, investors have the ability to immediately add value through strategic lease up of the first-floor vacancies to create a unique urban dining experience for visitors.


Metreon sits on 2.70 acres of leasehold land owned by the City and County of San Francisco. The ground lease has 58 years left of term, inclusive of options, expiring in 2082. The Property’s infill location adjacent to some of the city’s top revenue and foot traffic drivers, Moscone Center, Yerba Buena Gardens and SF MOMA, makes Metreon the premier shopping, dining, and entertainment destination of San Francisco.


Metreon represents a generational opportunity to acquire an iconic urban retail asset with immediate and long term opportunities to add value and to shape the future of downtown San Francisco.

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Attributes

Building area gross
29,041 m²
Rentable area
26,266 m²
Land area gross
1.09 ha
Occupancy
91.9%
WALT
8 years
Year built
1999
Year renovated
2012
Tenure
Leasehold
Remaining lease term
58 years

Media

Investment Highlights

  • Iconic Urban Retail Center with Dominant National Anchors
  • Generational Opportunity to Reimagine Downtown San Francisco
  • Immaculately Maintained Project with Unique Modern Design
  • Bullseye Location in San Francisco's Cultural Hub
  • Immediate Opportunities to Add Value
  • Extraordinary Consumer Spending Power in One of the World's Most Affluent Markets
Metreon 4_Property for Sale
Metreon 4_Property for Sale

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Metreon (0 Properties)

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Last updated
22 Oct 2024