REIT expands in San Francisco

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

Lexington Corporate Properties Trust announced that one of its joint venture programs acquired a class A office facility in the "SoMa" district in San Francisco. The value of the transaction was approximately $36.8 million. The facility is a four-story office building containing approximately 127,074 of net rentable square feet, consisting of approximately 117,600 square feet of office space and approximately 9,474 square feet of retail space. At the time of sale, California Culinary Academy occupied 103,838 square feet of the office space under a net lease through Nov. 14, 2019. Starbucks Corp. was under lease for 1,500 square feet of the retail space through September 2013. Lexington is a real estate investment trust that owns and manages office, industrial and retail properties. *** What's your opinion? Send your Letter to the Editor to