February 16, 2017 Comments Off on Thor Equities Pays $40M for Portfolio Expansion Views: 417 Bay Area, California News

Thor Equities Pays $40M for Portfolio Expansion

New York-based Thor Equities acquired 634 Second St. in San Francisco’s SoMa from MCM Real Estate Services for $40 million. The three-story brick and timber building includes more than 45,000 square feet of Class A office space.

Built in 1927 as the Crane Company Warehouse building, the asset was upgraded with large floor plates, high ceilings, new elevators, indoor bicycle storage, and a private rooftop deck. The building is occupied by cloud computing company Okta, and roughly 1,720 square feet of ground floor retail space is leased to SAJJ Mediterranean restaurant.

NGKF Capital Markets’ Kyle Kovac, Michael Taquino and Daniel Cressman advised the buyer, as well as the seller, an affiliate of Manchester Capital Management, LLC. Newmark Cornish & Carey’s Michael Brown and Bill Benton represented the seller in the property’s lease-up of.

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