Birtcher Anderson Realty LLC has acquired Potrero Business Center, a three-building, 134,444-square-foot flex/office property in San Francisco.
The value of the transaction was approximately $17.2 million.
Potrero Business Center LLC sold the property, which is located at 1740, 1750 and 1760 Cesar Chavez St. Built in 1986 and situated on 4.5 acres, the asset was 95 percent occupied at the time of sale by 14 tenants, including Davita Dialysis Clinic, Aramark Inc., Cupertino Electric and Graybar Electric Co. The center includes 167 off-street parking spaces.
“This is Birtcher Anderson Realty’s first investment in northern California and we are continuing to pursue office and industrial property investments in that region as it continues its marked economic recovery,” said Bob Anderson, chief executive officer at Birtcher Anderson Realty.
San Juan Capistrano, Calif.-based Birtcher Anderson Realty is a commercial real estate investment, advisory and development firm.