An eight-story office building at Post and Kearny streets in Union Square has sold for $4.2 million, or about $150 per square foot. The sale is the building’s first in at least 40 years. The buyer, Uris Acquisitions, has also been buying San Francisco properties at prices below their peak-cycle levels.
The buyer was Uris Acquisitions, led by Ian Jacobs and Max Raskin, according to The Real Deal. The 28,660-square-foot property at 47 Kearny Street is 89 percent leased. The seller was K & H California LLC, which state business records tie to David Gronowski.
K & H California LLC also owns 165 Post Street, a 46,315-square-foot office building across the street. The Real Deal describes the purchase as part of Project Uris, the group’s effort to acquire distressed commercial properties around the city. Uris Acquisitions declined to comment.
Uris Adds Two Buildings Near Union Square
The 47 Kearny purchase and Uris’ acquisition of 165 Post Street total $19.6 million, according to The San Francisco Standard. Together, the deals bring the group’s holdings to seven buildings across five retail corridors. Six of the seven have at least one ground-floor retail tenant…