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100 Pine Center

San Francisco, Italy

100 Pine Center

100 Pine Center is a class-A office building at the northwest corner of Pine Street and Front Street in San Francisco's Financial District. The building is 145 m (476 ft) with 33 floors, and 402,500 sq ft (37,000 m2) of rentable office space, a 150-car garage including 30 valet parking spaces. Compl

eted in 1972 as headquarters of the Continental Insurance Company, the building is among the earlier of San Francisco's modern skyscrapers. It is one of 39 San Francisco high rises reported by the U.S. Geological Survey as potentially vulnerable to a large earthquake, due to a flawed welding technique. By the start of the dot-com bubble the property, then owned by Grosvenor Properties, was outdated and suffered from deferred capital maintenance. In 1997, the building was purchased by Walton Capital, which invested heavily in upgrades, re-measured the building at 36,000 square feet (3,300 m2) larger than before, then aggressively re-leased space at higher rates. After two failed transactions, Walton Capital sold the building to investors led by Unico Properties in May 2000 for US$156 million. Unico re-sold the property to the Alaska Permanent Fund based on a US$149 million price in August...

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