Newmark is the exclusive leasing agent for a unique, 174,000 - square-foot mixed-use building located in the desirable SOMA district of San Francisco.
A Madison Capital joint venture recently acquired the asset and has since commenced a comprehensive capital improvement plan that will convert the five-story property into SOMA’s premier mixed-use building. 360 Spear features 112,800 sf of space that is currently available for lease and scheduled to deliver in early Summer 2019. Office, PDR and biotech uses are permitted at the building. According to Justin Cesario, Vice President at Madison Capital, “360 Spear has been thoughtfully designed to meet the needs of a wide range of tenants. We are pleased to have Newmark working on this assignment and to officially introduce our repositioning of 360 Spear to the market.”
Newmark Executive Managing Directors Charlie Withers, Bill Benton and Liz Hart along with Senior Managing Director Roman Adler are the leasing agents for 360 Spear, which offers 40,000 square foot floor plates and views of the San Francisco Bay.
According to Newmark’s Charlie Withers, “360 Spear is one of the most dynamic offerings on the market today. Leasing will focus on curating a diverse mix of cutting-edge tenants while also offering one tenant a headquarters opportunity next door to some of the most influential companies in tech and business. Ownership has commenced a repositioning that highlights the industrial character of the building including its steel and concrete structure, 13’ clean concrete ceilings, floor-to-ceiling windows with water views and robust infrastructure, which will be complimented by the building’s professionally designed, modern amenities including a new lobby and amenity space that features an operable storefront leading to a 275 ft urban green space on Spear Street.”
360 Spear is an adaptive re-use of the Navy and Marine Headquarters that was constructed in 1924. The building offers close proximity to public transit and hundreds of restaurants, a new lobby and reservable ground-floor amenity space with operable storefront system, urban green space, private parking, locker rooms, showers, re-designed elevator interiors, private entrance opportunities, drive-in capabilities, vast amounts of natural light and is institutionally owned and operated.
Newmark (“Newmark”), operated by Newmark Group, Inc. (“Newmark Group”) (NASDAQ: NMRK), is one of the world’s leading and most trusted commercial real estate advisory firms, offering a complete suite of services and products for both owners and occupiers. Together with London-based partner Knight Frank and independently-owned offices, Newmark’s 16,000 professionals operate from approximately 430 offices on six continents. Newmark’s investor/owner services and products include investment sales, agency leasing, property management, valuation and advisory, diligence, underwriting, government-sponsored enterprise lending, loan servicing, debt and structured finance and loan sales. Occupier services and products include tenant representation, real estate management technology systems, workplace and occupancy strategy, global corporate services consulting, project management, lease administration and facilities management. For further information, visit www.ngkf.com.
Discussion of Forward-Looking Statements about Newmark Group
Statements in this document regarding Newmark Group 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. Except as required by law, Newmark Group 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 Group’s Securities and Exchange Commission filings, including, but not limited to, any updates to such risk factors contained in subsequent Forms 10-K, 10-Q, or Forms 8-K.