250 Brannan Street | San Francisco


Zapolski + Rudd acquired 250 Brannan Street in November of 2004 as a vacant building in one of the hottest submarkets in San Francisco, SOMA. Originally the home of Gallo Salami Company the building was renovated and expanded by the Lennar Company to total 110,000 square feet of modern office space. 250 Brannan had served for a short time as headquarters for Double Click ( a rising dot com company).

The strategy for the acquisition of 250 Brannan had been to maintain the building for office tenants, anticipating an upturn in the leasing market. Market conditions, however, changed towards a heated residential conversion market. Located two blocks from the new San Francisco Giants baseball stadium and immediately within a prime residential towerneighborhood, 250 Brannan attracted significant interest as a residential conversion. Given the lead time associated to stabilize the property as a leased investment it was decided that the disposition of the asset was an opportunistic change of course that could yield a significant and ready return. The property was sold at a significant return on investment in May of 2006.