Bancroft Building
Posted on May 24th, 2012 ยท Posted in Acquisitions

Harvest Properties has partnered with Invesco Real Estate to purchase the Bancroft Building located at 731 Market Street. The 104-year old building at Market and Third has more than 93,000 square feet of space including office and ground level retail. The building also features a 13,000 square foot basement which the new owners might convert into office or meeting space.

Harvest has recently snatched up three historic buildings in the San Francisco area including 115 Sansome in the Financial District, the Pioneer Building in Mission and now the Bancroft Building.

Terms of the deal weren’t disclosed but this transaction is another sign of the torrid pace of commercial real estate acquisitions in the Bay Area. Adding to this frenzied pace is news that Blackstone Capital (via Equity Office) might offer as many as 15 buildings for sale in the Marin area.

If you would like more information on properties for sale in San Francisco or any other market in the Bay Area, contact Synergy Real Estate Group today.

Sources: CBS Marketwatch / Marin Independent Journal