September 13, 2016
Atlanta-based Invesco Real Estate acquired The Piers, an 82,158-square-foot mixed-use development from San Francisco-based Pacific Waterfront Partners LLC for $103 million. The office and retail project is located on San Francisco’s historic Piers 1½ , 3 and 5.
In 2001, The Port of San Francisco awarded the ground lease to Pacific Waterfront Partners, which completed a $64-million renovation of the dilapidated and condemned structures. The developer will stay on to manage the asset for Invesco.
The revitalized site now includes 40,000 square feet of public access, including a Bayside History Walk, public promenade, Port Walk, a water taxi landing and a marina. Among the occupiers of The Piers are Bloomberg, Hornblower Cruises & Events, as well as La Mar, Hard Water, The Plant and Coqueta restaurants.
For comments, questions or concerns, please contact Dennis Kaiser