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31 JANUARY 2024
Grosvenor, an international property owner and developer with a 70+ year track record in North America, announced substantial activity throughout its San Francisco office portfolio, including several new and renewed leases as well as the continuation of its initiative supporting local artists through the donation of regional space for art exhibitions.
Grosvenor completed nine lease transactions in 2023 for a total of 17,690 square feet of space throughout its portfolio of assets located in Union Square. Totalling just over 133,000 square feet, the properties in this high-quality, office and retail portfolio include 240 Stockton Street, 180 Post Street, 185 Post Street, and 251 Post Street.
“The strong leasing activity at our Union Square portfolio confirms the ongoing appeal of the properties with a wide variety of businesses throughout the city,” notes Nathan Lundell, Senior Asset Manager at Grosvenor in San Francisco. “Each building offers a prime location and solid property management, and we expect tenant demand to continue throughout 2024.”
The latest transactions include five new leases at 251 Post Street, in addition to two lease renewals at 180 Post Street, as well as new leases at both 185 Post and 240 Stockton Street. Avison Young serves as the exclusive office listing agent for Grosvenor’s four boutique office and retail assets in Union Square. In addition, Grosvenor has continued its well-received program of donating a 1,500 square foot ground floor retail unit at 251 Post Street to local artists for exhibiting their work to the public.
The latest art installations on display at 251 Post Street include “Consciousness of Color”, a multi-medium art presentation by renowned local artist Peter Shaw, and “Supreme Love” a sound-painting new media art presentation by Shaw in collaboration with artist musician Archbishop Reverend Franzo King and Reverend Mother Marina King.
The exhibition began in late November 2023 and is open to the public through January 31st, 2024, Monday through Saturdays 11:00am to 6:00pm. Proceeds of $5,000 from the show will support the San Francisco African American Arts and Cultural District and San Francisco Coltrane Church.
Nathan Lundell adds, “We’re equally delighted to continue to make art more accessible for the local community and offer support for our area’s talented local artists through our donated space program at 251 Post Street.”
The donated space reflects Grosvenor’s support of the local art community as well as the entire Union Square neighborhoood. The company previously hosted a similar art exhibition at the donated 251 Post space in early 2023 where Peter Shaw and Sameh Khalatbari’s showcased their successful exhibition ‘Art in Honor of Women’/‘Creative Women’ 2023.
The strong leasing news and continued donated retail space success follows on the heels of Grosvenor’s announcement that, effective January 1, 2024, Mark Purdy oversees all asset management activity across the firm’s North American portfolio as Managing Director, Asset Management.
For more information, please contact:
Great Ink Communications
Tom Nolan, Eric Waters