San Francisco Business Times

November 20, 2000

Real Estate

Martin Group asks $45M for recharged 600 Battery

Amanda Bishop

The Martin Group has put San Francisco's 600 Battery St. on the market. Asking price: $45 million.

The real estate company is selling the building after completing a large-scale renovation of the property and fully leasing it.

Angus Scott, Keely Ferguson and Edward Cuharski at Grubb & Ellis are listing the 112,208-square-foot building for sale. 600 Battery has advertising company GMO/Hill Holliday as the main tenant and Applied Graphics Technologies as the other tenant.

Those leases don't expire for another 10 years.

The suggested purchase price of $45 million works out to $401 per square foot.

The price is at the upper end of recent asking prices due to the property's location and renovation, Ferguson said.

"The standards of improvement are probably the best example of an office renovation in the city, and it's in one of the most desirable and tightest submarkets in the city," she said. "The location is superb."