360 Spear Street


San Francisco, CA

Acquisition Date:

September 2018


171,096 square feet

Asset Type:

Light Industrial and Office


Madison acquired the fee simple interest in this property located in the South Financial District in San Francisco. In-place tenants included AT&T and Verizon. Following acquisition, Madison completed a transformational capital plan to reposition the property from a data center to a creative mixed-use asset. New tenancies included technology and life sciences firms. Madison sold the investment in December 2020.

Acquisition Cost:

$95.1 million

Sale Price:

$175.0 million

Initial Equity:

$36.3 million

Follow-On Equity:

$8.8 million

Realized Equity:

$83.0 million

Gross IRR:


Gross Equity Multiple:


Project Timeline:

Project Timeline: