September 22, 2021 12:00 PM
Newmark Knight Frank (“Newmark”) announces it has been awarded the leasing assignment of One Sansome Street, a 42-story premier office tower and LEED Platinum certified building in the heart of San Francisco’s Financial District.
Newmark Vice Chairmen Mike Brown and Elizabeth Hart, Executive Managing Director Roman Adler and Managing Director Aaron Gillespie are representing the space on behalf of the landlord and joint venture, Barker Pacific Group (“BPG”) and PGIM Real Estate. BPG has over 30 years’ experience working in the San Francisco office market, having developed projects from the ground up, in addition to owning and managing One Sansome for the past decade.
“We are excited to partner with the Newmark team,” said Michael Barker, BPG Managing Director. “Their world class services are sure to bring great prospects to One Sansome, and I am looking forward to collaborating to further upgrade and add value to the asset.”
Situated at the intersection of Sansome St., Sutter St. and Market St., the Class A 623,824-square-foot building provides direct access to BART and Muni via a private tunnel. The property features panoramic views of the San Francisco Bay, the Golden Gate Bridge and the Bay Bridge.
The asset is undergoing a major transformation with the renovation of the Conservatory and ground floor plane to include on-site restaurant and bar, tenant lounge, and conferencing facilities. The newly designed Conservatory provides for private and public open space and a unique venue steeped in San Francisco history for events and casual interaction. The BPG and PGIM Real Estate joint venture has invested over $90 million in upgrading the building since acquiring it in 2010.
About PGIM Real Estate
As one of the largest real estate managers in the world with $195 billion in gross assets under management and administration,1 PGIM Real Estate strives to deliver exceptional outcomes for investors and borrowers through a range of real estate equity and debt solutions across the risk-return spectrum. PGIM Real Estate is a business of PGIM, the $1.5 trillion global asset management business of Prudential Financial, Inc. (NYSE: PRU).
PGIM Real Estate’s rigorous risk management, seamless execution, and extensive industry insights are backed by a 50-year legacy of investing in commercial real estate, a 140-year history of real estate financing,2 and the deep local expertise of professionals in 32 cities globally. Through its investment, financing, asset management, and talent management approach, PGIM Real Estate engages in practices that ignite positive environmental and social impact, while pursuing activities that strengthen communities around the world. For more information visit pgimrealestate.com.
1 As of June 30, 2021, net AUM is $130 billion and AUA is $43 billion.
2 Includes legacy lending through PGIM’s parent company, PFI.
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Our comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, growing startups to leading companies. In 2020, Newmark generated revenues in excess of $1.9 billion. Newmark, together with London-based partner Knight Frank and independently owned licensees, operates globally from approximately 490 offices with 19,300 professionals. To learn more, visit nmrk.com or follow @newmark.
Discussion of Forward-Looking Statements about Newmark
Statements in this document regarding Newmark that are not historical facts are “forward-looking statements” that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. These include statements about the effects of the COVID-19 pandemic on the Company’s business, results, financial position, liquidity and outlook, which may constitute forward-looking statements and are subject to the risk that the actual impact may differ, possibly materially, from what is currently expected. Except as required by law, Newmark undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Newmark’s Securities and Exchange Commission filings, including, but not limited to, the risk factors and Special Note on Forward-Looking Information set forth in these filings and any updates to such risk factors and Special Note on Forward-Looking Information contained in subsequent reports on Form 10-K, Form 10-Q or Form 8-K.