The Pioneer Building, San Francisco, CA Next
The Pioneer Building, San Francisco, CA Next
The Pioneer Building, San Francisco, CA Next
The Pioneer Building, San Francisco, CA Next
The Pioneer Building, San Francisco, CA Next
The Pioneer Building, San Francisco, CA Next

The Pioneer Building

3180 18th St, San Francisco, CA

In early 2012, Kinship partnered with Harvest Properties to acquire a 37,000 square foot office building at 3180 18th Street, also known as The Pioneer Trunk Building. Constructed over 100 years ago, the building originally served as a luggage factory, and was converted to traditional office use in the 1980s. Located in the Mission District of San Francisco, CA, by 2012 the neighborhood was experiencing gentrification. New housing and retail investment was occurring, but investors largely ignored office opportunities in the submarket. The Kinship-Harvest joint venture acquired the property at an attractive cost basis. Following near-term lease expirations, the partnership substantially upgraded the property's image and functionality, and re-leased the space at considerably higher market-rate rents to a selection of high-quality tenants. The stabilized property was sold in 2014.